Fmr. int’l economics director discusses US policy shifts

TAIPEI (TVBS News) — Matthew Goodman, former director of international economics at the White House National Security Council staff under the Obama and Bush administrations, shared his insights on the evolving landscape of U.S. economic policy in an exclusive interview with TVBS commentator Wenchi Yu. 

Goodman stated that the United States had a consensus regarding how it interacts with the global market. Still, since the 1970s, there have been changes in the economy and people's view of Washington because of the Watergate scandal and the Vietnam War. 

"And so trust kind of broke down," he said. 

Goodman also shared his perspective regarding the "Make America Great Again" (MAGA) movement that emerged from former U.S. President Donald Trump’s 2016 campaign 
and its impact on the U.S.'s international economic engagement. "I think the Republican platform really reflects on some level some of those changes in the overall consensus here with a particular Trumpian twist to those issues.

Yu then highlighted how the U.S. economic and foreign policies’ focus on China has become more pronounced, especially under MAGA economics, which unites those affected by globalization and national security hawks from both political parties.

The former White House advisor noted significant concerns about China's military developments and economic practices, such as overcapacity and government subsidies. He emphasized the importance of addressing these issues alongside national security matters. 

The conversation also touched on the CHIPS and Science Act, Taiwan's critical role in the semiconductor industry, and Trump's comment that Taiwan is taking away all of the United States semiconductor business. 

Goodman cautioned against taking former President Donald Trump's comments about Taiwan too literally, and stressed the importance of diversifying supply chains, clarifying that neither U.S. political party intended to "[hollow] out" Taiwan. "We're going to try and have a diversity of supply from various places, including at home," Goodman stated.

The interview provided a comprehensive look at the evolving dynamics of U.S. economic policy and its implications for global market interactions. With the ongoing developments in China and the semiconductor industry, these insights offer valuable perspectives on future economic strategies.