Thread/ Biden supply chain plan offers powerful map on how to rebuild globalization. bloomberg.com/news/articles/…
2/Most important, it is focused on resilience and not simple notions of reshoring. "The goal here is not pure self-sufficiency, but broad-based resilience." joebiden.com/supplychains/
3/Center to a new vision of globalization is focusing on specific threats and vulnerabilities rather than throwing the whole thing away. foreignpolicy.com/2020/07/04/thi…
4/A focus on resilience, opens the door to an alternative to brute Navarro-style reshoring. Biden plan sees a key role for working with allies to create alternative supply networks.
5/This creates a recoupling strategy rather than simple decoupling. foreignaffairs.com/articles/china…
6/Biden plan then uses a host of regulatory and trade tools to get us there. This includes transparency demands on firms and changes to tax system. All shift incentives so as to minimize choke points and vulnerabilities.
7/Powerful reminder that there is a choice between brute nationalism and a more nuanced strategy that minimizes threats of globalization while maximizes its benefits.
