IPEF- Isolating China from global supply chain

 

IPEF- Isolate China from global supply chain !! 

   We've learned that investing heavily in communist countries like China or Russia could bring many regretful results.  In 1970's China widely opened their economy to the world, promising their economic cooperation with other countries.  Since then, world has raised China by putting vast amount of money and technology to let them produce goods needed for the world.  China has contributed to alleviating people's living cost in many countries.  Many advanced countries have been happy to buy Made in China products, enjoying their low price and fair quality.  This made China the world's most popular factory, crucial for global economy and supply chain.  But when president Xi Jin Ping gripped power in China, the attitude that China had shown the world suddenly changed.  They've started threatening many countries with economic revenges, like banning export on rare earth material or repelling Korean products sold in China as a retaliation to THAAD deployment in 2017.  Now world realizes China uses their power to produce and supply world commodities to enforce their political goals on other nations.  We've seen China's lockdown policy has disrupted supply chains in the world, paralyzing many industries where Chinese products are needed.  President Biden's IPEF, which is gathering countries with abilities to supply core components is definitely an effective strategy preventing Chinese threats and influence on global supply chain, leading the world no longer relying on Chinese production and supply capacity.  IPEF would lead the world to be more independent and separate from China-centered supply base and to evade their frequent threats and revenges to other nations.