(Morning News) The U.S. Chamber of Commerce said that competitiveness is critical to the future of the United States, including addressing the challenge of China. The largest U.S. business lobby group also warned that the government’s increasing market and regulatory interference would stifle competitiveness.
VOA reports that the state of American business is competitiveness, and “competitiveness is how we Build our country, make it unparalleled, and keep it going.”
Clark expounds the importance of competition to the future of the United States and the world from four aspects: market competition, talent competition, global leadership competition and concept competition. “We’ve all seen astounding innovation in the race to develop vaccines and treatments for Covid-19,” she said. “Who won? All of humanity.”
When it comes to the race for global leadership, Clark said the U.S. is falling behind on the important metric of trade.
While other economies, including China, are racing to strike new trade deals, the U.S. has done little, and the current administration has done little to change the status quo, she said.
She said that China was continuing to emerge as a formidable commercial and strategic competitor, and at the beginning of the new year, the Regional Comprehensive Economic Partnership (RCEP), covering the entire East Asia region, came into effect, giving China better access to the world‘s fastest growing market.
She said that the United States‘ response strategy to China’s challenge used to be the establishment of the Trans-Pacific Partnership (TPP), and 90 percent of the draft agreement was written by American negotiators, but then the United States withdrew. China is trying to join.
Clark also said that China is now the largest trading partner and source of investment for many countries in Africa and Latin America. If the United States fails to reach reciprocal trade agreements with these countries, the United States will lose the exports and domestic exports supported by these markets. employment, “not to mention the weakened strategic alliance.”
She said: “There are no easy answers when it comes to China – we must compete vigorously around the world. We must defend our values and security against unfair trade and regulatory practices. We must be sustainable and public Collaborate on critical global issues like health. We must be able to do all three—and being able to do so skillfully will be one of the defining characteristics of American leadership in this era.”
However, Clark said that in supporting the global competition of American companies, the US government should not only open up markets and compete with a rising China, but also need to help American companies to compete and innovate in terms of domestic taxation, regulation and other policies.
In her speech, she mentioned the labor shortage that the United States is currently facing. She called for increasing the number of legal immigrants in the United States, creating a permanent solution to the problem of “Dreamers” who were brought to the United States as children, addressing the difficulties faced by the parents of “Dreamers”, and helping those who have been released from prison to re-enter the job market, etc. .
But she also warned that governments should not intervene and regulate excessively, which could stifle companies’ ability to compete and innovate. She criticized some of the policies that the Biden administration and Congress have introduced or are proposing, including taking an aggressive stance on corporate mergers and acquisitions and considering raising corporate income taxes.
She said the government should be an enabler, not a suppressor. Governments can set the conditions for business success, but they should be freed to continue growing, driving innovation, creating jobs and promoting prosperity.
“Government can’t do what business does,” Clark said. “Government can’t take risks that business can take. Government can’t operate at the speed of innovation. Government can’t create wealth, prosperity, or new jobs. Government can only redistribute.”
She said the U.S. Chamber of Commerce will challenge the government’s approach in Washington, in states and in courts if the government doesn’t stop overly interfering.
Clark pointed out that these competitions are fundamentally a battle of political and economic models, that is, whether the top-down, centrally managed, state-run model will win out, or the free-promoting model will win.
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