摘要

The Biden administration’s economic and trade policy has inherited the economic nationalism from the Trump era while downplaying its populist elements, and pushed the protectionist economic nationalism to a new height. Biden attempts to preserve the US hegemony, but the implementation of related policies is set to intensify confrontation among major powers and challenge the interests underlying the US-led alliance system due to the inherent narrowness of economic nationalism, which will ultimately undermine America’s hegemonic position.