'A sea change': Biden reverses decades of Chinese trade policy

[jgo]

Forget tariffs. Biden’s actions to crack down on Beijing’s tech development will do more to hinder the Chinese economy — and divide the two nations — than Trump ever did.

After decades of U.S. efforts to engage China with the prospect of greater development through trade, the era of cooperation is coming to a screeching halt.

The White House and Congress are quietly reshaping the American economic relationship with the world’s second-largest economic power, enacting a strategy to limit China’s technological development that breaks with decades of federal policy and represents the most aggressive American action yet to curtail Beijing’s economic and military rise.

The new federal rules, executive orders and pending legislation aimed at China’s high-tech sectors, which began this fall and will continue in 2023, are the culmination of years of debate spanning three administrations. Taken together, they represent an escalation of former President Donald Trump’s tariffs and trade disputes against Beijing that could ultimately do more to slow Chinese technological and economic development — and divide the two economies — than anything the 45th president did while in office.

Read more:
https://www.politico.com/news/2022/12/26/china-trade-tech-00072232

[yaesu]

1. This needs to happen and more to end our economic dependency of putins bff. Nt

[Faux pas]

2. Kickin'

[doc03]

3. The USWA and other unions warned of sending

our vital industries to China decades ago. It's not steel now but we built up high tech in China. We can't even make cars now because China makes all the chips.
It's about time someone saw the light.

[Elessar Zappa]

4. Thankfully,

Biden got through a bi-partisan bill that should help our chip-making industry get off the ground.

[DENVERPOPS]

6. No Shit

We develop the technology, they literally pirate all our proprietary stuff, manufacture it for the world's masses, make massive profits off of OUR TECHNOLOGY.........Something is needed to bring the manufacturing back to the U.S. and our Fascist Corporations couldn't prosper from off shoring the manufacturing of stuff imported into the U.S. and especially our technology which enabled the Chinese and other Countries to use our work to benefit them, not us.....

The most fucked up thing Trump did, Out of the blue, for absolutely no reason except to get a power hard-on, was to pass huge tariffs on our agricultural exports to china, not realizing, or caring about the massive number of American farms he would destroy and force into bankruptcy.....

Those farms will never recover, China has now, forever more, changed to importing agricultural products from other countries......

[NullTuples]

8. It's not just pirating; we literally don't have the foundries to make the chips we design.

Trump's tariffs always had a personal angle. Dig deep enough and there was something he personally wanted from the other national leader from which he could profit.

[DENVERPOPS]

10. Yes

[republianmushroom]

5. like

[Evolve Dammit]

7. Hope we survive the blow back. They make almost all our pharmaceuticals among many other things

This will take time, but never should have happened in the first place.

[ShazzieB]

9. Source?

"They make almost all our pharmaceuticals among many other things."

Do you have a source for the pharmaceutical part of this (that China makes "almost all" of them)? I know a lot of pharmaceuticals distributed in the U.S. are manufactured in other countries, but from what I've read, China's share isn't anywhere close to "almost all."

That said, I agree that we do need to make more of these products (and many others) here at home.

[NullTuples]

12. Generic products are mostly made in Asia. 32 out of 100 name brand made in the USA.

"Of the 100 brand-name drugs, 32 were finished in the United States, while 67 were finished in countries in the European Union, Canada, Japan, Singapore, Switzerland, and the United Kingdom. Only one brand-name drug, the anticonvulsant Neurontin (gabapentin), was made in India."

"About 80% of generic drugs were finished in foreign countries, and an even greater percentage had their API made in foreign countries," he added. "In contrast to brand-name drugs, which are largely made in Europe, generic products and their API are typically made in Asian countries such as India, China, Japan, Singapore, and others."

https://www.cidrap.umn.edu/report-details-where-top-100-brand-name-rx-drugs-are-made

[Evolve Dammit]

13. others similar; here's one. I'm not happy about it either, and maybe it's less?

https://www.cfr.org/in-brief/coronavirus-disrupt-us-drug-supply-shortages-fda

[Karadeniz]

11. Remember Trump cancelled the TPP trade block intended to achieve this.