Economy, Finance and Markets

“China is front of mind in the US”

“The Transatlantic relationship has come a long way in the nine short months since the previous administration left office,” guest speaker Heidi Crebo-Rediker, Adjunct Senior Fellow at the Council on Foreign Relations, remarked at an Atlantik-Brücke gathering in New York City. Crebo-Rediker, who served as the State Department’s first chief economist and was appointed by then-Secretary of State Hillary Clinton, reminded the guests of the strain that relations were under only recently: “Recall we inherited in January a highly charged and strained relationship between us, in security, managing COVID, trade, international tax and national economic security, and the need to address a massive void in US leadership where Trump climate change-deniers were leading the charge. Nine months later we partner and coordinate with you to address all of the above, through existing fora and institutions but also new ones such as the Trade and Technology Council (TTC).”

Crebo-Rediker, who specializes in international political economy, U.S. economic competitiveness, infrastructure policy, and women in the global economy, laid out thoughts for the way forward: “We share similar opportunities and challenges: opportunities to invest in our own people to make sure they benefit from the digital and climate transformations and large infrastructure investment we are undertaking, and ensure we do so in a way that represents common values and ambitions.” The economist reflected that while there may sometimes not be a consensus on how to tackle challenges between Europe and the United States, disagreements should not be seen as absolute: “How we proceed will not entirely synch across the Atlantic, but we should be able to resolve the differences. Likewise, our best success will come from addressing challenges together. Rising competition from countries that don’t play fair and pose a systemic security and economic challenge, in particular China, is front of mind in the US. It is in both our interests to protect each other from distorted markets, supply chain risks – especially in sensitive technology and materials – and shared vulnerabilities.”

After Ms. Crebo-Rediker’s remarks, Atlantik-Bruecke members and Young Leaders Alumni took the opportunity to discuss both the transatlantic relationship as well as the transatlantic partners’ approach to China with her.

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