The United States is advised to enhance the involvement of its private sector in global markets to compete with China, according to Deputy Secretary of State Christopher Landau. Landau emphasized the significance of commercial diplomacy in American foreign policy, viewing it as crucial for both geopolitical rivalry and long-term global stability.
Highlighting the need for US businesses to outperform Chinese entities worldwide, Landau stressed the importance of addressing barriers that hinder American companies from investing abroad. He emphasized the role of commercial diplomacy in expanding export markets, promoting US investments overseas, and attracting foreign direct investments to the US.
Landau rejected the notion that a commercial focus makes US foreign policy overly transactional, emphasizing the mutual benefits underpinning relationships. He also underscored the importance of economic development in stabilizing politically fragile regions, citing examples where investment projects helped bridge political divides.
Advocating for closer government-business coordination, Landau emphasized the significance of access to capital in developing economies. The Atlantic Council forum highlighted the growing consensus on the critical role of private capital in global growth, particularly in response to initiatives like China’s Belt and Road Initiative.
