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The battle for global trade leadership between the two major powers is escalating.
Last week, the United States and China once again showed intense competition for leadership in shaping the rules of world trade and developing global supply chains.
From November 28 to December 2, the first international supply chain exhibition was held in Beijing, which was attended by American technology giants such as Tesla, Apple, Intel and Qualcomm. The exhibition was held under the theme "connecting the world for a common future" and demonstrated China's readiness for greater economic openness and commitment to globalization. According to the China Trade Association, 515 companies from 55 countries and regions participated, and American participants accounted for 25% of registered foreign exhibitors.
At the same time, in Washington, US President Joe Biden convened the first meeting of the Supply Chain Sustainability Council. The head of the White House announced 30 new initiatives aimed at strengthening American supply chains in strategic industries - from pharmaceuticals to renewable energy.
In particular, the new measures are aimed at stimulating domestic production of vital medicines and reducing dependence on "unreliable" or "unsafe" foreign supplies of medical devices. In addition, the measures include new investments in tools for monitoring supply chains by better sharing data between federal agencies and assessing risks to renewable energy supplies.
US President Joe Biden also called for cooperation with other states in the framework of the Indo-Pacific Economic Initiative. This initiative is aimed at developing common rules that will include data protection and reducing carbon emissions. Additionally, it is designed to reduce China's influence in important sectors of the economy, such as the extraction of rare minerals. The initiative brings together 14 countries in the Asia-Pacific region, whose total GDP is 40% of global GDP.
The head of the White House also introduced an early warning system for disruptions in the supply chains of semiconductors, which are a key technology for both economies and the subject of a dispute with Beijing. He said that the United States "never gives up" and that in 50 years ' time, historians will consider "this moment" "the beginning when America won the competition of the 21st century."
Despite U.S. efforts to strengthen national supply chains and reduce dependence on China, American consumers are still paying high prices for Chinese imports, which Biden has kept under tariffs imposed by Trump. In addition, American supply chains remain indirectly linked to the Asian giant through third-party countries such as Mexico, a leading exporter of goods to the United States, which has recently deepened economic ties with China.
Last week, the United States and China once again showed intense competition for leadership in shaping the rules of world trade and developing global supply chains.
From November 28 to December 2, the first international supply chain exhibition was held in Beijing, which was attended by American technology giants such as Tesla, Apple, Intel and Qualcomm. The exhibition was held under the theme "connecting the world for a common future" and demonstrated China's readiness for greater economic openness and commitment to globalization. According to the China Trade Association, 515 companies from 55 countries and regions participated, and American participants accounted for 25% of registered foreign exhibitors.
At the same time, in Washington, US President Joe Biden convened the first meeting of the Supply Chain Sustainability Council. The head of the White House announced 30 new initiatives aimed at strengthening American supply chains in strategic industries - from pharmaceuticals to renewable energy.
In particular, the new measures are aimed at stimulating domestic production of vital medicines and reducing dependence on "unreliable" or "unsafe" foreign supplies of medical devices. In addition, the measures include new investments in tools for monitoring supply chains by better sharing data between federal agencies and assessing risks to renewable energy supplies.
US President Joe Biden also called for cooperation with other states in the framework of the Indo-Pacific Economic Initiative. This initiative is aimed at developing common rules that will include data protection and reducing carbon emissions. Additionally, it is designed to reduce China's influence in important sectors of the economy, such as the extraction of rare minerals. The initiative brings together 14 countries in the Asia-Pacific region, whose total GDP is 40% of global GDP.
The head of the White House also introduced an early warning system for disruptions in the supply chains of semiconductors, which are a key technology for both economies and the subject of a dispute with Beijing. He said that the United States "never gives up" and that in 50 years ' time, historians will consider "this moment" "the beginning when America won the competition of the 21st century."
Despite U.S. efforts to strengthen national supply chains and reduce dependence on China, American consumers are still paying high prices for Chinese imports, which Biden has kept under tariffs imposed by Trump. In addition, American supply chains remain indirectly linked to the Asian giant through third-party countries such as Mexico, a leading exporter of goods to the United States, which has recently deepened economic ties with China.
