#developing_countries — Public Fediverse posts

Biden's investment-first strategy marks a dramatic shift from decades of U.S. economic policy that largely focused on removing tariffs and other trade barriers in hopes that private U.S. companies would rush in and industrialize poorer nations.

That was the broad thinking behind the establishment of the World Trade Organization at the turn of the century, but administration officials say that agenda has now run its course.

“We don’t see tariffs as being at the core of trade policy. We don’t see trade policy as being at the core of international economic policy,” deputy national security advisor for International Economic Affairs Mike Pyle said at a late June appearance at the Carnegie Endowment.

“Just as the agenda with other industrial economies begins with investment, so too the agenda for the developing world begins with investment.”

#bidenomics #china #infrastrucure #developing_countries
https://www.politico.com/news/2023/09/08/bidenomics-g-20-world-00114625