To harness the urgency for strategic industrial investment into a self-sustaining force, public financing infrastructure must be built that enables deployment of private capital toward strategic objectives. The conventional debate frames financialization and industrialization as antagonists; in fact, the former can enable the latter. The public sector’s critical role is not as a substitute for markets but as a coordinator of market infrastructure and a backstop for financial risk that the private sector cannot bear alone. The ultimate purpose of this public role is to make the construction and delivery of strategic assets a well-understood, repeatable practice, one that private financiers can evaluate with confidence, and with a declining scale of public support over time…

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