Biden's decision to block Nippon Steel's takeover of US Steel is a shock to financial markets and allies, indicative of political populism over economic prudence.
In this multipolar world, Biden's failed strategy shows a lack of sophistication, reminiscent of playing tic-tac-toe while the global market requires chess-like maneuvers.
The era of prioritizing deindustrialization has left America vulnerable. To reindustrialize effectively, the nation must embrace foreign partnerships even in sensitive industries.
The American steel industry, critically underfunded, needed restoration through collaboration with allies rather than political stances that hinder international investments.
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