The escalating technological, geopolitical and economic rivalry between the superpowers gives greater urgency to a plan for diversification. But this requires that Biden (pic) focus on making supply chains more efficient, rather than merely bringing masses of manufacturing jobs back to American shores.
WHILE much of Joe Biden’s first term in office will involve digging out from the Covid-19 pandemic and recession, the incoming president has also vowed to change the way the US manages its supply chains.
This is framed as a way to make America more resilient in the face of crises after struggling to secure much-needed protective and medical materials in the early days of the coronavirus.
But it’s obvious that his supply-chain policy centres on weaning the US and its allies off China. Already dashed is the old theory that free trade would induce Beijing to peacefully democratise and integrate itself smoothly into existing global institutions.
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