By CCN: At a recent campaign stop, Joe Biden balked at the idea that China competes with U.S. businesses. The apparently-clueless former vice president actually pointed to disadvantages in the geography of China's territorial land. He also made a glib reference to corruption in Chinese society.
As if the most hallowed halls of the American government and economy weren't rotten to the core. As if the Obama administration had actually punished Wall Street for all that corruption fat-cat bankers wrought in 2008.
Here's the entire quote:
"China is going to eat our lunch? Come on man. They can't even figure out how to deal with the fact that they have this great division between the China sea and the mountains in the West. They can't figure out how they're going to deal with the corruption that exists within the system. I mean you know they're not bad folks, folks, but guess what? They're not competition for us."
But how seriously do we want to take the guy that thinks he can beat MAGA with "MAMAMARTTEOWWATDOTCTDOTPCOPWD?"
This is obviously not someone who's dealing with the real world here. Nor does his lack of a coherent response for an obvious question make Mr. Biden seem like a candidate who's actually running to win against Donald Trump in 2020. His lack of research to give a nuanced answer about China and his lack of a competent alternative to MAGA reveal a woeful lack of serious preparation.
Seems kind of like he's just going through the motions and along with the momentum. Much like he did throughout his entire unremarkable tenure as a senator from one of the smallest states in the union. He's just happy to be in the spotlight and bask in all the attention.
China absolutely represents a major competitive threat to many U.S. businesses. It's patently false to say that China is not competing with the U.S. in the global economy.
For decades now China has relentlessly copied what's worked in the West with terrifying efficiency. That's modernized China and grown its economy very quickly, but it doesn't lead value creation the way innovation does. Now China's starting to innovate.
That's why even as billionaire technology investor Peter Thiel has given up on Silicon Valley to find the next "breakthrough innovation," he's looking to find one in China's increasingly innovative economy, where there are a vast number of unicorns (privately held companies worth $1 billion or more).
But don't expect politicians to find the best solutions to the pressing urgency of global competition. The best thing American politicians can do for the American economy is getting out of our way. That's what's always worked best for America.
Not more handouts. Not more regulations. Not more security. But less government, lower taxes, and more freedom. Not the kind of thing you can expect from a Joe Biden presidency - not that there will ever be one.
Last modified (UTC): May 2, 2019 12:07 PM