“By many economic measures China will become a dominant force, whatever America does. It will have the world’s biggest economy and it is already the largest trading goods partner of almost twice as many countries as America. Germany, Europe’s export powerhouse, aims to sustain commercial links with China even as political links buckle. In South-East Asia many countries look to America for their security and China for their prosperity. If forced to choose between the superpowers, some may pick China.
Rather than imposing a decision on other countries today, Mr Biden needs to win them around. And his best chance of that is for America to demonstrate that it can thrive at home and be the leader of a successful and open world economy.
Here, too, the details of Mr Biden’s scheme are troubling. Rather than build on America’s strengths as the champion of global rules, the administration is using the threat of China to further its domestic agenda. Its doctrine is full of industrial policy, government intervention, planning and controls. It is uncomfortably like the decoupling being pursued by China itself.”
The Economist is not happy with the Joe Biden China-doctrine…
