Marc Busch, a fellow at Georgetown University's McDonough School of Business, referring to U.S. President Joe Biden's decision to block Nippon Steel's proposed acquisition of U.S. Steel. He forecast "significant fallout" for U.S. efforts to work with allies to create resilient supply chains in the face of Chinese dominance or competition in key areas.
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Japan and other allies will have doubts about investing in or aligning with politically sensitive U.S. supply chains. China must be chuckling to itself that it could never have hoped for a better outcome.
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lincolnman
BINGO! Not only China, but all the "Axis of Evil" members are rejoicing after fellow tyrant-wannabe Trump was elected. No one could be happier than the Little Dictator that sits in the Kremlin - who evidently has reams of "kompromat" on him.
MAGA really means Make Authoritarians Great Again...
Geeter Mckluskie
I ordered an NHL hockey sweater for my kid from the NHL's online store. The NHL is a North American hockey league. I had to pay double the cost of the sweater due to the shipping cost. The sweater which was of poor quality was made in China. Perhaps in the near future I'll be able to order the sweater directly from China, or I'll get a better made sweater from a US manufacturer.
TaiwanIsNotChina
Free trade in the US has been trouble since Trump 1 and the abandoment of the TPP.
Geeter Mckluskie
The TPP was a bane for Japanese farmers and small manufacturers who can't compete with the slave labour of their Asian counterparts.
JeffLee
Highly ironic comment, as China's supply chains are waaay more "politically sensitive" and insulated than any in the West. Beijing's stated goal, under its "Made in China 2025" initiative, is to be self-sufficient in key and critical industries.
Rather than "chuckling," Beijing is more like nodding its head in appreciation.
Ricky Kaminski13
Maybe that was the point Professor Busch? A last final air fist bump to the foes of the West and free world. Bidens broken teams last parting gift and gesture, one collectivist to the other.
kibousha
Red or Blue, it's the same.
Trump enacted tariff for China in his 2016 term, which Biden happily continued. Trump cancelled TPP, which Biden happily continued. Then Biden blocked US Steel deal (a.k.a. Trump's "America first").
We are US most loyal ally in the pacific, for 80 years, and how does the US think about us ? a "security risk", a potential "enemy", "Imperial Japan version 2.0". What a joke, loyalty has no value for US, just like how their corporations treat their workers.
Red or Blue, US policy seems clear, allies are only allies as long as they benefit only the US.
TaiwanIsNotChina
I suspect you can't just come and go from trade agreements.
Who has a massive trade surplus with the US again?