Clean Technology Innovation and U.S.-China Relations

China's economy has grown more than five-fold over the past two decades, adjusted for inflation, making it the world's second-largest economy after the United States. Based on purchasing power parity (not output per capita), many believe China's economy is larger than the U.S. economy. This rapid growth has lifted hundreds of millions of people out of extreme poverty.

At the same time, China has significantly expanded its exports to the world, including to the U.S. market, and in response, the White House has imposed significant tariffs on Chinese products.

The outcome of the 2024 US presidential election will shape bilateral relations for the next four years. Trade is a key policy issue, and there is bipartisan support for reducing the US trade deficit by reducing reliance on imports of key Chinese products.

William C. Kirby, T.M. Chan Professor of Chinese Studies at Harvard University and Spangler Family Professor of Business Administration at Harvard Business School, is a keen observer of contemporary China. In 2020, Kirby spoke to Harvard Magazine about China's ambitions for world leadership in the 21st century.

In this new interview (complete with auto-generated closed captions by YouTube), Kirby discusses the evolution of China-US relations, focusing specifically on the impact of tariffs on the clean tech sector and the broader economic implications.

China has emerged as a leader in the manufacturing of solar panels, battery materials, and electric vehicles (EVs). The country has invested more than $230 billion in developing its EV industry, threatening to saturate the global market. In May, the Biden administration imposed a 100% tariff on EVs produced in China and a series of tariffs on other products. Kirby warns that these strong protectionist measures, designed to protect the U.S. auto manufacturing industry, could have unintended consequences for consumers, other industries, and the economic relationship between the two countries.

As he argues, China's advantages in clean energy technology and the U.S. reluctance to foster collaboration that could improve its international competitiveness could pose significant problems in the coming years. While both countries seek to serve their domestic interests with protectionist policies, cooperation in promoting clean technology could benefit both. The European Union recently imposed modest tariffs on Chinese-made electric vehicles, but this was not based on any unfounded belief that these cars receive a certain amount of local government support in the towns where they are manufactured, Kirby continued.

Kirby cites the example of U.S.-Japan trade relations in the 1980s, pointing out how Japanese investment in U.S. manufacturing eased trade tensions, boosted jobs, and fostered technological advances. In contrast, the current U.S. tariffs on Chinese-made electric vehicles signal a shift toward isolationism, stymieing partnerships that could strengthen U.S. innovation and market competitiveness. This historical perspective suggests that we need to rethink policies that prioritize unilateralism over cooperation to foster sustainable economic growth in both countries.

Kirby further criticizes the geopolitical implications of tariff-centric policies, suggesting they reflect broader anxieties about America's global leadership in technological dominance. He argues that prioritizing competition over cooperation and guardrails exacerbates tensions and risks impeding progress in key areas where global cooperation is essential, such as clean technology.

Indeed, shared interests in combating climate change will be important in guiding peaceful relations between the U.S. and China, said Megan O'Sullivan, Kirkpatrick Professor of International Affairs and Practice at Harvard Kennedy School. Notably, she was speaking at a forum hosted by Harvard's Salata Institute for Climate and Sustainability. This is a perfect example of the intersection of environmental policy, security policy, and international relations.

Beyond economic concerns, Kirby touches on cultural and regulatory issues, particularly U.S. security concerns surrounding Chinese platforms such as TikTok. Kirby notes that the biggest controversy over a teenage video app that neither leader in either country knows how to use shows just how low China-U.S. relations have fallen to. Similarly, he criticizes regulatory measures targeting Chinese technology and advocates for a balanced approach that protects national interests without stifling innovation or encouraging discrimination.

“This is a trade war that nobody wins and everybody loses,” Kirby reflects. “But we're in that fear right now. The way I see it, it's not so much a fear of China, it's a fear of American decline. But China is a lightning rod for our own insecurities. They can build high-speed rail. They can build electric vehicles in a way that's overwhelming. And right now, we haven't been able to do that.”

Sources 1/ https://Google.com/ 2/ https://www.harvardmagazine.com/2024/06/clean-tech-innovation-us-china-evs The mention sources can contact us to remove/changing this article

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