Washington’s New Narrative for the Global Economy
While the Biden administration’s economic agenda represents a welcome departure from past Democratic presidencies, its latest actions against China have raised concerns about protectionism. But recent developments suggest that the US can address its national-security concerns without undermining the global economy.
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CAMBRIDGE – Two competing agendas are currently vying to shape the United States’ domestic and foreign economic policies. One agenda is inward-looking, focusing on the creation of an inclusive, resilient, prosperous, and sustainable American economy. The other focuses on geopolitics and on maintaining US primacy over China. The future of the world economy depends on the outcome of this conflict and whether these opposing priorities can coexist.