The US Should Steal China’s Regional Cooperation IP
Nearshoring beats reshoring and is the best way for American companies and workers to compete with the biggest economic challenge they face.
More nearshoring will make it better.
Photographer: Omar Martínez/picture alliance via Getty Images
Chinese President Xi Jinping’s defiant reaffirmation of China’s push for technological independence and even dominance in his 20th Communist Party Congress speech, matched by US bans on semiconductor and equipment sales, are just the latest escalations in a decoupling contest between the world’s two biggest economies.
The first cracks are appearing. More will follow. Yet US workers and the US economy more broadly may not benefit as much as they could from the global supply chain reshuffle. Here, the US can learn something from its rival’s regional economic approach in Asia. To come out on top in this strategic competition, the US needs to embrace its neighbors too.