British writer claims US cannot outcompete China
British writer claims US cannot outcompete China
British writer Tom Fowdy claims that the US can't outcompete China due to its sclerotic political system.
The need to confront China was never a green light for a controversial progressive agenda that both Republicans and right-leaning Democrats despise, according to Russia Today
Democratic Senator Joe Manchin's opposition to President Joe Biden's Build Back Better Act exposed "deep political divides" and Washington's inability to "outcompete China," said British writer Tom Fowdy in Russia Today.
"The blocking of the bill, however, goes far beyond party political disagreements," said Fowdy.
"It's dealt a hammer blow to Biden's vision for the economy," he added.
Further, Fowdy claimed that it's a demonstration of why the United States won't be able to outcompete China on an economic level in the way Biden had hoped.
"The structural reality is that America can't just coordinate its growth like China can, with one senator able to bring the whole stack of cards down," the author said.
Biden's landmark two trillion USD social spending bill has been facing backlash from his own party, as Manchin publicly stated he would vote "no.", according to Xinhua.
The bill, starting off at an initial $3.5 trillion, later negotiated down to $1.9tn trillion, is seen as one of the fundamental pillars of Biden's domestic agenda (no slogan has been so closely affiliated with his presidency so far) and pledges to throw billions at clean-energy initiatives, affordable housing, education, child tax credits, and so on.
'Build Back Better' is not the only integral piece of economic legislation that has stalled in Congress. The United States Innovation and Competition Act - another titanic spending bill that pledges over $52 billion in subsidies for semiconductor manufacturers in the US, aimed squarely at Beijing, according to Russia Today.
The need to confront China was never a green light for a controversial progressive agenda that both Republicans and right-leaning Democrats despise, according to Tom Fowdy.
(ANI)