Another similarity of Brexit and Trump's campaigns was an attack on so-called elites. This is not so much a failure of capitalism as of its high priests in the economic profession, for which we must all take some responsibility.

Brexit has shrunk the market opportunities. Exiting trade deals will do the same for the U.S. Those deals must be actively shaped and governed to make growth more inclusive.

Germany is using its Energiewende policy as a way of envisioning a green transformation and innovation across many sectors.

In my view, the state should be active and work in cooperation with private businesses to spur growth that's sustainable and inclusive. The policy process is about co-creating and co-shaping of markets, creating new opportunities for business investment - and negotiating a better deal for the public too.

With a Trump administration we don't know enough yet to make predictions, but if past behavior is any indication, I am not encouraged.

While infrastructure is of course important, it must be part of a bigger vision. The point is not to simply dig ditches but to steer those investments towards transformational growth.

The globalized nature of production and innovation means that the benefits don't necessarily stay in the country where the investments are made.