Check out this story: Pentagon Report Paints Grim Picture Of America’s Industrial Decline https://flip.it/cEv5SC from Flipboard.

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The report offers a mixed picture of where the U.S. stands on research of next-generation technologies vital to defense, such as 5G and biotechnology. But the persistent message is that while America still does well at cutting-edge research, when it comes to turning the fruits of our inquiries into manufactured goods, the overwhelming trend is to shift offshore.

How else can you explain that 75% of all the lithium-ion batteries produced in the world are made in China versus 12% in the U.S.? You can’t make electric vehicles without such batteries. You probably also can’t make the kind of ground vehicles our military will need in the future without such batteries.

The bottom line here is that the United States is not competing effectively in industries that will largely define the future of the global economy. Whatever President Trump’s failings may have been, and they were many, he saw where this was headed and put industrial policy back on the national agenda.

The Pentagon’s latest industrial capabilities report makes clear that President Biden will need to do the same, rethinking much of U.S. economic and trade policy. As his national security advisor, Jake Sullivan, argued with co-author Jennifer Harris in Foreign Policy a year ago, “a new grand strategy for today’s world will only be as good as the economic philosophy behind it.”

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