/biz/ - Business & Finance

>>54773169
another summary by a literally who woman:
https://twitter.com/jennifermharris/status/1651698131682066438

@JakeSullivan46 outlined an affirmative vision - long requested by allies/partners- for what comes after the post Cold War' US-led economic order. In a nutshell:

- It is a time to build, at home and abroad. This will require a major reorientation of domestic & foreign policy 1/
- The goal is no longer trade for trade’s sake or markets as ends unto themselves: we have larger, more urgent aims— rebuilding our energy, physical & technology infrastructure. And we’ll do it via targeted public investments that crowd in private capital to deliver good jobs 2/
- This is the surest path to all 4 major challenges of the day: resurrecting a middle class, to sowing political support for further decarbonization; to out-competing China; and, through all of this, to repairing faith in democracy itself. 3/
- US domestic efforts alone will pay global dividends: these US taxpayer-funded investments could clean energy costs globally by >15%. Next gen nuclear, h2, carbon capture & other technologies will happen faster & cheaper around the world bc of US taxpayer-funded investments 4/
- But US investments aren't enough. The world has just passed $1T/yr in clean energy investment. Per IEA, it needs $4T/ yr. So we are nowhere near saturation, and need our partners to build, too.
- We are reconstituting our foreign policy around helping them do exactly this. 5/
- After all, these problems - inequality & damage to democracy, hollowing out of our industrial base, competition with China, climate change -- aren't unique to America. So just as we've done across history, we will fashion answers that work for US but not the US alone. 6/