President Joe Biden is about to spotlight the disruptions in the global supply chain and the surge in energy price. He will discuss it when he meets his fellow G20 leaders of the world’s largest economies.
On Saturday, Biden will attend an annual forum of G20 leaders that refers to the 20 major economies which account for more than 80% of the world GDP.
The national security advisor Jake Sullivan said that Biden is planning to cover a supply chain meeting along with the world leaders. he has a plan to discuss the ways where the government can alleviate the pressure points in the system of global trading.
“The global economy is going to be front and center because the pandemic is continuing to have an impact on economic recovery,” explained Howard Stoffer, University of New Haven professor of International Affairs. “How countries respond in a coordinated way or independently is going to be an important issue at the G20,” he added.
The pandemic has already disrupted the world’s supply chain. It is continuing to bear the pain of surging customer demand, shortage in labor, and delay in overseas manufacturing. It is now leading to the higher cost of transportation and inflation.
The global supply chain challenges will work as an initiative with a very high age. Biden will also get the opportunity to lead the discussions without sharing the stage with China and Russia’s presidents.
Michael Froman, the vice chairman and president of strategic growth at Mastercard, said,
“Not only is the U.S. back at the table, but one of Biden’s political strengths is engaging with leaders informally. He’s been involved in these kinds of informal discussions with leaders throughout his career in the Senate as well as vice president and now president. With two of the other major leaders not attending shows that the U.S. is reasserting leadership and effectively reasserting engagement.”
Biden’s diplomatic choreography at the G20 Summit in Rome followed America’s shambolic exit from Afghanistan. Biden took the view to repair any alliance with diplomacy and to restore the leadership position of Washington.
To block, the Washington policy strategist thinks Biden feels very comfortable in dealing with the foreign leaders than his precursor. This is an area where he feels he is comfortable. White House said that the administration continues with a press on ways to address various issues in the supply chain.
Credits: CNBC
