Not the start of the decline of globalisation – just of China's dominance

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Determined to have his FDR moment, Joe Biden’s latest policy seems likely to have put the frighteners on China, amid what experts are describing as a fundamental reworking of global supply chains and international trade.

Launched on Tuesday, the White House Council on Supply Chain Resilience is central to the Biden administration’s efforts to strengthen both the US economy and its manufacturing capacity.

Those efforts, which his team have dubbed “Bidenomics”, are intended to lower costs for American families and ensure they ...