Thoughts on a CapEx supercycle?

I saw this interesting article from the Man Institute about a potential surge in CapEx to boost sluggish worker productivity gains in the West. What is everyone's thoughts on this?

https://www.man.com/maninstitute/coming-capex-sup…

The reasons given in the article for this are:

  1. Corporate sector substitution of capital for labour as the wage share in GDP rises

  2. Net zero and the drive for renewable energy

  3. Supply chain independence as countries secure their access to essential components and materials, independent of global supply chains

  4. “Build back better” style policies to refresh public infrastructure and “level up”

  5. Defense spending

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