On Thursday, October 29th, the Walker Institute, in collaboration with the Folks Center for International Business, welcomed David Firestein, Nic Rogers, and Victor Shih to the Palmetto Diplomacy and Trade Forum on China Shock 3.0: The New Geopolitics of Trade, Investment, and Technology. David Firestein, President and Chief Executive Officer of the George H.W. Bush Foundation for U.S.-China Relations; Victor Shih, Director of the 21st Century China Center, Professor, and Ho Miu Lam Chair in China and Pacific Relations at UC San Diego; and Nic Rogers, Senior Manager of the China Center for the U.S. Chamber of Commerce each brought an interesting perspective to the table. 

China Shock 3.0 is a concept debated by officials and scholars alike that describes China’s third wave of global market disruption, focusing on artificial intelligence, semiconductors, and advanced technologies rather than just low-cost consumer goods. This forum focused on the evolution of China’s economic and strategic objectives, and how the United States and others should be adapting in order to compete. A big takeaway from this discussion was that, instead of looking for ways to slow China down, the United States needs to find ways to make its economy move faster and more efficiently. Rather than fearing competition, we should use the competition as an impetus to improve ourselves. On campus, cutting science funding, making it difficult for foreign researchers to obtain visas, and disbanding USAID are all actions that play into what China wants.

All parties present voiced their concerns about tariffs. They agreed that tariffs are a bipartisan issue that are “bad across the board.” With regard to Artificial Intelligence, it was made clear that China is significantly ahead of the United States on AI regulation. The panelists expressed optimism about the future of diplomatic relations and collaboration between the U.S. and China. Overall, the event was well received by students and scholars alike. We would like to give a huge thanks to our experts, David Firestein, Nic Rogers, and Victor Shih for sharing their perspectives and creating such an interesting discussion!