I have the pleasure to be invited to a very interesting seminar on the implications of U.S. economic de-risking from China FIIA event.
I am glad I attended the seminar The New Washington Consensus: Implications of U.S. Economic De-Risking from China by the Finnish Institute of International Affairs
This seminar has focused on a major change in world economics, moving from the global economy seen since 1991 to a new stage after the Soviet Union’s collapse. This new period is marked by renewed rivalry between the US and China, the two biggest economies. This change is different from the earlier time of geopolitical calm, where big companies developed vast international business networks, adopting a global approach from the start.
A key moment in this change was a speech by Jake Sullivan, the US National Security Advisor, in April 2023. This speech, known as the “New Washington Consensus”, marks the end of the US’s dominant position and starts a new balance of power in economics between the US and China.
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