Last week, I quoted a recent speech by US national security adviser Jake Sullivan, in which he asked, “How does trade fit into our international economic policy, and what problems is it seeking to solve?” As I’ll argue here, we should start by seeking to solve the problem of concentration and competition.
Leaving aside whether Beijing invades Taiwan (an enormous question, of course, but stick with me), many of the current US and European concerns with China are about the way in which the country’s state-run system encourages economic concentration, and the fact that this concentration is then deployed in mercantilist ways.
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Financial Times
Rana Foroohar is a global business columnist and an associate editor at the Financial Times, based in New York. She is also CNN’s global economic analyst.
