Biden’s course correction on China is smart and important

The United States and China have embarked on one of the most hair-raising experiments in international history. Both sides are now locked in a steady, escalating, geopolitical competition. And yet both are deeply economically intertwined. Can these two trends — geopolitical tension and economic engagement — continue, or will one of them give?

Over the past few years, as Washington and Beijing have feuded, U.S.-China trade in goods has remained strong, reaching an all-time high of nearly $700 billion last year. Major American companies, from Qualcomm to Corning to Wynn Resorts, get large chunks of their revenue from China. American farmers’ largest export market is China.

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