President Biden’s interim national security strategic guidance stresses the importance of bolstering U.S. competitiveness and innovation to meet the challenge posed by China. However, Biden’s domestic economic policies do the opposite: if Biden had his way, the tax burden on major corporations would be much higher, and the nation’s most innovative enterprises would be subject to harsh antitrust restrictions. In other words, the Biden economic philosophy is not compatible with the Biden security posture. The White House needs to rethink its approach to taxes and antitrust in light of the threat posed to U.S. power by the rapid rise of the Chinese economy. I have written a commentary for Forbes here.
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