United States Intends to Prevent China from Establishing Global Trade Regulations

Here's a fresh take on the topic:

Joe Biden Speaks Out: Demanding Market Democacies Set the Global Trade Rules

President Joe Biden isn't shy about voicing his opinion. In a bold move, he's asserted that it's high time for market democracies, not China, to establish the rules for 21st-century global trade and technology.

In an article, Biden made it clear that he plans to meet with the heads of the European Commission and the European Council to discuss these crucial matters. His aim? To ensure that market democracies, rather than China, call the shots when it comes to shaping the trade and tech landscape of the future.

Biden's stance is more than just talk. He's not afraid to take a stand and demonstrate the power of uniting against challenges, whether it's the ongoing pandemic, the looming climate crisis, or the questionable activities of Russia and China.

But what does this mean in practice? Biden's administration has rolled out several initiatives aimed at solidifying the position of market democracies on the global stage.

One key area is investment and export controls. The administration is looking to screen American investments in critical technology sectors in China, like semiconductors, microelectronics, quantum information technologies, and artificial intelligence. This move aims to prevent U.S. investments from being exploited by China for military or national security purposes.

Biden's team has also beefed up export controls, particularly on dual-use technologies that can be used for both civilian and military purposes. This includes tightening controls on computer chip exports to China, aiming to curb the enhancement of China's military capabilities.

Beyond this, the administration has proposed the CHIPS and Science Act and the Inflation Reduction Act, both of which provide billions of dollars for domestic semiconductor production and scientific research. These acts are part of a broader effort to boost U.S. technology leadership and reduce reliance on foreign suppliers.

Lastly, Biden's administration is focusing on global collaboration, emphasizing cooperation with allies and other market democracies to set common standards and rules in global trade and technology. This includes efforts to enhance trade agreements and digital trade standards, such as the U.S.-Japan Digital Trade Agreement.

In short, these strategies aim to promote innovation within the U.S. and its allies, protect against unfair practices, and ensure that democratic countries set the norms for international trade and technological development. So, let's see how things shape up!

President Biden emphasizes the need for market democracies, including himself, to set the global rules for 21st-century trade and technology, instead of China, as stated in an article.
In a move to enforce these rules, the Biden administration is looking to implement stricter investment and export controls, especially in critical technology sectors and dual-use technologies.
The administration's agenda includes the CHIPS and Science Act and the Inflation Reduction Act, which allocate billions of dollars for domestic semiconductor production and scientific research, aiming to boost U.S. technology leadership.
Lastly, the Biden administration is fostering global collaboration with allies and market democracies, working towards creating common standards and rules for international trade and technology development.