China will likely be the biggest business disruptor of the 2020s because of its unique position as the world’s largest market for many products, the leading supplier of many more, the toughest competitor, and the West’s chief geopolitical rival. Indeed, China has already exceeded the economic impact of earlier rivals the West has faced, and going forward it will be much more difficult to counter. With Chinese companies coming under increased scrutiny in United States, and Western companies under similar scrutiny in China, bilateral relations increasingly look like a win-lose economic struggle that will test which nation is stronger and which is likely to prevail in specific industries. Tensions could defuse, but either way the 2020s will likely be the decisive decade.
ITIF hosted a discussion of these issues, including how U.S. businesses are likely to be affected and what the U.S. government should do in response. An expert panel will discuss a recent ITIF report arguing the United States and its allies should focus on rebalancing global supply chains, bolstering competitiveness, adjusting to China’s market size, and solidifying the West’s appeal.