More than 250 years on, governments share his view of factories as a cure for the ills of the age including climate change, the loss of middle class jobs, geopolitical strife and weak economic growth with an enthusiasm and munificence surpassing anything seen in decades. China’s “Made in China” strategy aims to turn the country from a big manufacturing player into a dominant one. India’s “Make in India” strategy hopes to boost the industrial share of the economy to 25% of value added by 2025. Emerging markets with bountiful natural resources, including Indonesia and Zimbabwe, are busy banning the export of raw materials as part of attempts to incubate home-grown industries. Is the world on the grip of manufacturing delusion?

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