The future US President Joe Biden wants to coordinate more closely with the US allies on China policy. This was emphasized by the director-designate of the National Economic Council, Brian Deese, on Tuesday in a discussion at the digital CES. “China is our biggest competitor worldwide,” said Deese.
Deese described the competition with the People’s Republic as one of the “key challenges” of the century. “We want to sit down with our allies again and see how we can put pressure on Beijing.”
Difficult act of balancing
The Biden government expects a difficult balancing act in relation to China. The new US president will have to decide whether to uphold the trade bans and punitive tariffs imposed by his predecessor or whether to introduce a possible relaxation into other negotiations with Beijing. Biden wants to approach Chinese relations “smarter”, he had promised before the election.
However, the trade war with China and the sanctions imposed by US President Donald Trump’s administration have also exposed the weaknesses of the US economy. The aim of the Biden administration is therefore also to strengthen the domestic economy again, said Deese. “We have a clear strategy on how we secure supply chains. We have to produce things at home again.”
Investments in the domestic economy should also help. On Monday, Biden announced an investment package of around $ 300 billion for the American tech industry. In addition, it is a matter of “overcoming structural problems that are hindering the development of economic potential,” said Deese. If it turns out that the legal framework does not meet the needs of the economy, “we want to work on it together with Congress”.
Pandemic as the first task
It is important that economic prosperity benefits everyone, Deese stressed. “A healthy economy is one that everyone benefits from growing.” The Biden administration has therefore set itself the task of addressing the imbalances in the US economy and creating more jobs.
The most urgent task, however, is initially to combat the coronavirus pandemic. “It’s going to be tough,” admits Deese. “Distributing and inoculating the vaccines will be one of the most complex and difficult endeavors our country has ever seen.” The tech industry plays an important role in this, including with digital educational tools. “But broadband expansion and overcoming the digital divide will also be essential.”
The National Economic Council is a White House-based body that advises the President on economic issues. The director of the National Economic Council is considered the President’s chief economic advisor. The current incumbent is Larry Kudlow. Biden had nominated Deese for the post in early December 2020. The 42-year-old was previously an adviser to US President Barack Obamas and under this was already Vice Chairman of the Economic Council. He then headed the sustainable investments division at the investment company Black Rock.