Exports Ban Leads to Mass Layoffs
To prevent the current wave of large-scale layoffs, the best way out for the United States is to reengage itself with the rest of the world, rather than confining its hi-tech firms to its own domestic market.
To prevent the current wave of large-scale layoffs, the best way out for the United States is to reengage itself with the rest of the world, rather than confining its hi-tech firms to its own domestic market.
Limiting the business interaction between the U.S. and China would serve neither country, and it also would not advance any relevant U.S. political interests.
The fact that the Joe Biden administration is stepping up efforts to stop America-made chips and chipmaking equipment from going to China is dampening demand for American products in the world’s biggest semiconductor market.
The U.K. is repeatedly cutting off its own nose to spite its face to appease American preferences. Doing so undermines jobs, investment and opportunities with one of its most critical trade and investment partners. This costly decision has put America first and British workers last.
Competition and cooperation imply equality but it is U.S. policy to maintain, at all costs, a colonial hierarchy it calls the ‘rules-based order’ in its relationship with China.
The time has now come for the U.S. to put its money where its mouth is and lift the embargo on PV products from Xinjiang. Seizing these products from China will only cease powerful sustainable growth in the U.S.
It is impossible to forge cooperation and partnership without consensus on threats or shared concerns of threats with regional actors.
There is still much work to be done and some re-thinking needed among the West’s political elites about how to create a stable and peaceful world. While the Xi-Biden meeting proved to break the ice, we still have a way to go before we experience a real thaw in the China-U.S. relationship.
In the 19th century, social justice reformers had a famous rallying cry: ‘eight hours’ labor, eight hours’ recreation, eight hours’ rest.’ In the 21st century, there is no reason to go backwards.
The meeting was a positive step, but no indication of real change.
While the atmospherics of the Xi-Biden meeting in Bali are pleasant enough, it remains to be seen what the U.S. side will do in terms of concrete actions to reduce tensions and improve relations.
The West seems to be regressing to the mercantilist bloc system of the colonial era. This time, however, there is only one bloc, where the former colonial masters have assembled as vassals of a single hegemon, with the rest of the world looking on from the outside.