On May 21, 2021, U.S. President Joe Biden met with South Korean President Moon Jae-in at the White House. On the same day, Biden and Moon issued a joint statement, stating that the United States and South Korea will strengthen cooperation in areas of advanced technology, vaccines, climate issues, economics, and many others. Among these, advanced technology cooperation is given priority.
The United States and South Korea affirmed that they will build a strong and resilient supply chain and deepen cooperation in space and cyber domains, ensuring a trustworthy and value-oriented digital and technological ecosystem. The two sides committed to increasing mutual investments, including semiconductors and chips, as well as research and development cooperation in the fields of Artificial Intelligence (AI), next-generation communications networks (6G), quantum technology, biotechnology, and many others.
Hong Kong financial analyst Katherine Jiang Tianming said in an exclusive interview with The Epoch Times that the United States has been leading the decoupling of global supply chains from China. Looking back on the measures that the United States has taken in recent years, there are three parts. The resilient U.S.-South Korean supply chain is the third part of the U.S.-led global decoupling from China.
As the global supply chains decouple, the economy of the Chinese Communist Party (CCP) will be in an increasingly difficult position.
Part 1: Establishing a Decoupling Mechanism in the Regulatory and Legal Sectors
On May 15, 2019, former President Donald Trump signed an emergency executive order to secure information and communications technology and services supply chains, barring U.S. companies from using telecommunications equipment that poses a national security threat.