Biden economic advisor - and former Fed vice chair - Lael Brainard is speaking and says:
- Biden is very focused on making sure we have resilient supply chains
- That kind of resilience means diversification, not decoupling from China
The comments are trying to soften the Biden Executive Order which would look to limit critical US technology investment in China by mid August. Of course China will have a different view which is not surprising. It could also lead to other restrictions from China.
