One of the top priorities President-elect Joe Biden will have to tackle—right after COVID-19 and shoring up the economy—is our relationship with China, (which of course figures in those two issues as well.) The U.S.-China relationship re-emerged this past week and I suspect will continue to do so as we move towards Inauguration Day.
It was a central tenet of Trumpism that China was demonized and blamed for our economic and societal woes—everything from job losses and trade deficits to fentanyl—and of course the COVID-19 pandemic too. And guess what? In some respects President Donald Trump was spot on, but he so conflated these truths with hyperbole and falsehoods that he undermined his own argument and as such gave ammunition to the Chinese.
Bottom line: Relations between the two biggest economies in the world are a mess right now. (Just this week Trump banned investments in Chinese companies he says do business with its military.) The question is what should Biden, (who late this week was belatedly congratulated by the Chinese for winning the election), do? We need a reset to be sure. But exactly how, and to what end?
One thing’s for sure, we’re never going back to where we were before with China, simply because the Chinese economy has nearly caught up with ours. Also it’s now the case that folks on both sides of the aisle agree that China plays by its own rules to our detriment and we need to call them on that, (one of those Trump truisms.) How we do that is where we disagree.
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פטריוט ישראלי היום, 18:24אומרים שמשבר חוב ארהב יצור משבר חמור ממשבר 2008
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