"The new EU trade policy tries to strike a principled balance between the U.S. and China, with clear signals to both that it will set its own course," says Professor Mary Lovely. "Finding a way forward that is both 'open' and 'autonomous' will be difficult, however, as openness brings interdependence," she says.
Professor Mary Lovely was a guest on the Brookings Institution podcast "Dollar & Sense" to discuss the resilience of U.S. supply chains, the potential effects of Biden’s "Buy American" policy, U.S. engagement with China, and other early lessons from the Biden administration’s emerging trade agenda.
University Professor James B. Steinberg says there are opportunities for cooperation, but if the deep diagnosis is that China is challenging the U.S., it would be very hard to sustain and insulate areas of cooperation from the deeper conflict.
In his latest piece, "Dollar Doomsayers Are Wrong—Again," published in World Politics Review, Associate Professor of Political Science Daniel McDowell explains why the Chinese yuan does not pose a threat to the dollar's reserve currency status.
"China pushed the boundaries of acceptable international behavior during the Trump years, exploiting the absence of consistent American leadership," says Professor Mary Lovely, who was quoted in the Politico article, "China 2021: Experts make their one big prediction."