Editorial: How China Should Respond to ‘Decoupling’

As the industrial outlook and global supply chains become more fragile than ever, “decoupling” is intensifying. A few days ago, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) took another step to thwart China’s semiconductor industry by implementing a series of new controls on the export of semiconductor-related items to China. The German chancellor and some EU officials, by contrast, took a supportive stance on globalization and defied “decoupling.” China has expressed its appreciation for their support. In response to the global supply chain crisis, China should send an even stronger signal that it will continue to open up and put its globalization intentions into action. It is crucial that China adheres to objective patterns when it comes to economic growth and scientific and technological development, and makes proper institutional arrangements.