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As China forges global trade ties, U S risks falling behind despite early Biden wins

As China forges global trade ties, U.S. risks falling behind despite early Biden wins The biggest hole in the Biden administration’s otherwise encouraging efforts to better compete with China a void that could undermine all the other pieces is the lack of an international trade strategy. While President Xi Jinping’s China accelerates his efforts to negotiate multilateral and bilateral trade and investment agreements around the world, both Republicans and Democrats in the U.S. have grown allergic to such arrangements. “The Chinese believe deeply in the significance of the correlation of forces, and they believe that correlation at the moment is in their favor,” says Stephen Hadley, former national security advisor to President George W. Bush. If the U.S. fails to alter that Chinese conviction, it won’t regain the leverage needed to deal with Beijing.

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Without a trade strategy, Biden can t win the contest with China

Without a trade strategy, Biden can’t win the contest with China China s president, Xi Jinping, gives an online speech at the Boao Forum for Asia on April 20, 2021. Photo via Kyodo and Reuters. The biggest hole in the Biden administration’s otherwise encouraging efforts to better compete with China a void that could undermine all the other pieces is the lack of an international trade strategy. While President Xi Jinping’s China accelerates his efforts to negotiate multilateral and bilateral trade and investment agreements around the world, both Republicans and Democrats in the United States have grown allergic to such arrangements.

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Op-Ed: As China Forges Global Trade Ties, U S Risks Falling Behind Despite Early Biden Wins

The Chinese believe deeply in the significance of the correlation of forces, and they believe that correlation at the moment is in their favor, says Stephen Hadley, former national security advisor to President George W. Bush. If the U.S. fails to alter that Chinese conviction, it won t regain the leverage needed to deal with Beijing. The most important missing element in changing that Chinese calculus is a trade strategy, Hadley says, one that could rally global allies, provide American jobs and growth, and counter escalating Chinese efforts to organize the world economy around itself. Former U.S. Secretary of State Madeleine Albright once called the U.S. the world s indispensable country, but Xi is now positioning China as the world s indispensable economy.

United statesTaiwan straitTaiwan generalUnited kingdomSouth koreaBruxelles capitaleYoshihide sugaHank paulson jrBarack obamaMadeleine albrightGeorgew bushJoe bidenRonald reaganStephen hadleyHillary clintonBoao forum for asia

Op-Ed: As China Forges Global Trade Ties, U S Risks Falling Behind Despite Early Biden Wins

Op-Ed: As China Forges Global Trade Ties, U S Risks Falling Behind Despite Early Biden Wins
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United statesTaiwan straitTaiwan generalUnited kingdomSouth koreaBruxelles capitaleYoshihide sugaHank paulson jrBarack obamaMadeleine albrightGeorgew bushJoe bidenRonald reaganStephen hadleyHillary clintonBoao forum for asia

Op-Ed: As China Forges Global Trade Ties, U S Risks Falling Behind Despite Early Biden Wins

Op-Ed: As China Forges Global Trade Ties, U S Risks Falling Behind Despite Early Biden Wins
nbcdfw.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nbcdfw.com Daily Mail and Mail on Sunday newspapers.