Rising to the Challenge: Addressing China's Economic Threats to the United States

In this installment of “Countering Chinese Communist Party Influence Around the World,” leading experts cover one of the most critical and contentious aspects of U.S. China competition: economic policy. Vandenberg Coalition Executive Director Carrie Filipetti speaks with former Chief of Staff for the U.S. Trade Representative Jamieson Greer and Clete Willems, former Deputy Director of the National Economic Council, on rising to the challenge: addressing China’s economic threats to the United States. In this series, the Vandenberg Coalition shifts the focus beyond the Indo-Pacific and into various regions around the world where the Chinese Communist Party continues to threaten American interests. Each episode in the eight-part series discusses China’s growing influence in a given region, how it measures against American influence, how to define our relationship with the region in light of competing priorities, and what America can and should be doing to better protect and advance our national interests. Timestamps:00:00:02 Opening by TVC Executive Director Carrie Filipetti 00:00:58 Goals of U.S. economic policy towards China 00:02:07 Impact of China’s economic rise on global political and military systems 00:02:56 Historical impact of America’s failed assessment of China’s economic policy 00:05:27 Recent news coverage of China’s economic stagnation 00:07:04 Impact of China’s crackdown on the private sector and U.S. businesses 00:09:05 China’s unreliable disclosure of economic data  00:09:33 CCP’s framework for China’s global economic dominance  00:12:37 U.S. policy response to economic interdependence with China  00:15:48 Risks of U.S. business in China and need for targeted export controls and tariffs 00:17:46 Political discussion around China’s threat to U.S. domestic economy  00:19:40 ‘De-risking’ vs. ‘Decoupling’ 00:21:22 Biden Administration’s outbound investment controls  00:23:55 Inadequate enforcement of U.S.’s outbound investment controls  00:25:08 Measures to reduce reliance on China’s supply chain control 00:27:38 ‘Friend shoring’: U.S. need for targeted sectoral trade agreements 00:29:19 Rationale for the four-year review of trade tariffs  00:30:24 Efficacy of targeted tariffs on China 00:34:37 Biden’s backtrack on the Phase One deal  00:37:51 U.S. business and economic alternatives to China 00:38:46 Reconsidering permanent normal trade relations (PNTR) with China 00:43:48 U.S. alignment with allies on economic controls  00:46:06 Developing a harder line with European allies  00:47:37 Role of bilateral free trade agreements  00:49:08 Diversifying supply chain away from China  00:53:54 IPEF Supply Chain Agreement as an alternative to FTA 00:58:35 Development of a complementary defensive and offensive U.S. trade strategy 01:01:52 Closing by TVC Executive Director Carrie Filipetti