US Congress China Working Group, Defeating China Inc. – Krach

US Congress China Working Group, Defeating China Inc.-Krach Global Economic Security Strategy (GESS) harnesses powerful areas of competitive advantage, including the innovation and resources of our private sector; strong partnerships with friends and allies, and the moral high ground of our American values and optimism. It provides an integrated plan to leverage, grow and amplify these strengths through three distinct pillars of action.

The first pillar of the Economic Security Strategy is to turbocharge our economic competitiveness and innovation to ensure our economic security. If we cannot do both in tandem, we will no longer be the global leader that we are now. The pillar begins by describing how we will turbocharge economic competitiveness by continuing to invest in the American worker, increase access to capital, accelerate the nation’s digital transformation, rebuild our industrial base, and extend our lead in research and development.

The second pillar details how we must safeguard America’s assets, which have long been under attack from our strategic adversaries. This involves protecting our country’s technology, intellectual property, investment resources, open markets, civil society institutions, and strengthening our supply chains to prevent being overly and adversely dependent on any one country. Finally, the pillar outlines the importance of focusing on critical innovation sectors so that we can win the race for leadership in areas vital to our national security.

The third pillar is to form a network of trusted partners comprised of like-minded countries, companies, and civil society institutions. This Economic Prosperity Network (EPN) is built on the idea that strong partnerships advance shared prosperity. Through economic diplomacy, the EPN (Clean Network) will harness the innovation, resources and synergies of its members into an equitable and unifying geo-economic network that enables multiple areas of economic collaboration. These partnerships are grounded in a set of shared principles that form the basis of trust and prosperity: reciprocity, integrity, accountability, transparency, and respect for the rule of law, property, and sovereignty. By leading this freedom coalition, the United States and our partners will have strength in numbers to confront any nation that seeks to undermine our prosperity and basic freedoms.

The GESS recognizes that the world wants and needs America to lead, but that we cannot confront the challenges of our time alone. We must build a coalition of economic partners and private sector companies to secure the foundations of free and open societies at home