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Meeting the problem of China’s mercantilist, state-directed financial system will require far more than piecemeal competitiveness initiatives, as essential as they are. It is time to include a competitiveness focus into most if not all main areas of U.S. policy affecting the economic system. In his shift to a “worker-centric commerce agenda,” President Biden should reject the counsel of anticorporate, antitrade progressives who deny that U.S. companies’ pursuits align with U.S. workers’ interests. A new competitiveness-focused strategy to trade coverage can help both. Expenditures for retail prescriptions have been roughly stable for the previous twenty years as a share of …
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