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Biden s supply chain decoupling moves can reign in China and the climate

The Biden administration’s order has struck multiple birds with one stone climate change action, domestic employment generation and global leadership.

United statesThe white houseDistrict of columbiaMichael mccaulSenate majority leader charles schumerFord motorGeneral motorsNorth americaDodge chargerSecurity dialogueWhite houseSenate majority leader charlesGreen newInternational relationsDonald trumpUnited states foreign policy

Biden s supply chain decoupling moves can rein in China and the climate

© Getty Images President Biden’s executive order aimed at securing supply chains of strategic sectors signals a change in course of action from the previous administration that used trade wars to address the economic challenges associated with China. The Biden administration’s decision to diversify supply chains will prove to be a more prescient strategy to decouple from China and protect American partners and allies from China’s economic coercion than the tariff and trade wars of the Trump administration. The executive order comes at the backdrop of a sudden halt in vehicle production among the Detroit three, due to shortage of semiconductor chips, that has led to millions in losses to American automakers General Motors closed three plants in North America, production on Ford Motor’s popular pickup trucks was impacted and Stellantis (formerly Fiat-Chrysler) stopped production of the Jeep, Dodge Charger and Challenger for most of January.

United statesThe white houseDistrict of columbiaMichael mccaulSenate majority leader charles schumerFord motorGeneral motorsNorth americaDodge chargerSecurity dialogueWhite houseSenate majority leader charlesGreen newInternational relationsDonald trumpUnited states foreign policy

China becomes only major world economy to report growth in 2020

© Getty Images China s economy increased by about 2 percent in 2020, becoming one of the only major countries to report such growth in the midst of an economically devastating pandemic. Economic activity in China shrunk by nearly 7 percent in the first quarter of last year, The Associated Press reports. However, the government’s decision to swiftly shut down most of its economy appeared to have allowed the country to reopen businesses earlier than others. However, the AP reported that 2020 was still the worst year in terms of growth for China since the 1990s, when the country faced international isolation following the Tiananmen Square massacre.

Tiananmen squareInternational monetary fundAssociated pressInternational monetaryJoe bidenDonald trumpEconomic policy of the donald trump administrationChina united states trade warEconomy of the united statesசர்வதேச பண நிதிதொடர்புடையது ப்ரெஸ்சர்வதேச பணஓஹோ பிடென்டொனால்ட் துருப்புசீனா ஒன்றுபட்டது மாநிலங்களில் வர்த்தகம் போர்பொருளாதாரம் ஆஃப் தி ஒன்றுபட்டது மாநிலங்களில்

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