Pure Extracts Submits Dealer’s Licence Application to Health Canada


VANCOUVER, British Columbia, March 04, 2021 (GLOBE NEWSWIRE) — Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts” or the “Company”), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, is pleased to announce that its wholly owned subsidiary, Pure Mushrooms Corp., has submitted an application to Health Canada for a Dealer’s Licence under the Controlled Drugs and Substances Act (CDSA).

The CDSA and its Regulations provide, among other things, the framework for legal access to controlled substances, and the control and regulation of production, distribution, and sale. One of Health Canada’s responsibilities is to provide the licensing and oversight framework for the legal production of controlled substances.

Under this framework, a company is required to obtain a licence issued by Health Canada in order to conduct various activities with controlled substances. Licence holders are responsible for compliance with the CDSA and its Regulations as well as compliance with other applicable federal, provincial, and territorial legislation and municipal by-laws. The issued licence dictates activities, conditions, and restrictions for the licence holder depending on licence permissions.

A Dealer’s Licence could allow for the following activities:

  • Procurement of controlled substances, including by import, synthesis, propagation, cultivation and harvesting of psychedelic mushrooms for psilocybin extraction
  • Research and manufacture of controlled substances such as psilocybin and psilocin
  • Business-to-business sale of controlled substances, including by export
  • Sale of controlled substance via pharmacies

Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are grateful to have the support of one of Canada’s premiere consulting companies with subject matter proficiency in cannabis and other regulated consumer product industries in assisting that we submitted a fully compliant Dealer’s Licence application to Health Canada. As a plant-based extractor bringing functional mushroom products to market in Q1, we are very excited to be laying the groundwork for our move into the controlled substances world of psychedelic extracts.”

Having the ability to do extraction research and development into psychedelic compounds such as psilocybin and psilocin will prepare Pure Extracts to work with partners such as medical doctors, pharmaceutical company and pharmacies as clinical trials lead to the legalization of psychedelics and the advancement of micro-dosing in the near future.

Submission of the Company’s Dealer’s Licence application is subject to compliance with applicable securities laws, including any necessary approvals by the CSE.

About Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)
Pure Extracts features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. On September 25, 2020, Pure Extracts was granted its Standard Processing Licence by Health Canada under the Cannabis Act and the Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020. Find out more at https://pureextractscorp.com/.

For further information please contact Empire Communications Group at (604) 343-2724.

ON BEHALF OF THE BOARD
Ben Nikolaevsky
Ben Nikolaevsky
CEO and Director

The CSE has neither approved nor disapproved the contents of this press release.

This news release contains forward-looking statements relating to the future operations of Pure Extracts, and the other statements are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. There is no certainty that the Company will ultimately be successful is obtaining a Dealer’s Licence. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of Pure Extracts’, are forward-looking statements and involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of Pure Extracts include risks detailed from time to time in the filings made by Pure Extracts under securities regulations.

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Meghan Markle is ‘not the victim’



Meghan Markle has marketed herself as the “great woke warrior”, yet if even half the allegations that she bullied Palace staff are true then this will be incredibly damaging for her reputation, according to Daily Mail journalist Andrew Pierce.

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Seafarers’ wi-fi connects international sailors with loved ones in Australian-first trial


It is something many people take for granted, but for thousands of seafarers stuck on ships for up to 14 months at a time, internet connectivity is the only way to see their loved ones.

Before the coronavirus pandemic seafarers could access wi-fi at ports while cargo ships were docked, but now the vessels have been forced to anchor several kilometres offshore where a signal is non-existent.

An Australian-first initiative trialling wi-fi on cargo ships off the Port of Gladstone has allowed sailors to connect up to 20 kilometres from the shoreline.

Mission to Seafarers Gladstone manager Jessica Mulhall said internet access was difficult for workers due to the high cost of prepaid services and their low wages.

“The second they were able to access their phones they all stepped outside to have that private moment with their families and speak to them,” she said.

Gladstone Ports Corporation (GPC) acting CEO Craig Walker was aboard the first ship to trial the device.

“When we turned it on we saw the excitement in some of their faces,” Mr Walker said.

“Those are the little things and fundamentals that we all take for granted.”

He said every Australian relied on seafarers, with more than 90 per cent of the world’s trade moving via ships in and out of ports.

“Those people that are out on the sea all night, all day, away from their family and away from their homes, it’s really important that they keep connected,” he said.

The general manager of Maritime Safety Queensland (MSQ), Angus Mitchell, said the project aimed to improve seafarer welfare.

“They are at sea in many cases 12, 14 months before they can get home,” he said.

“It may seem small just to be able to provide wi-fi and internet connectivity for the rest of us, but for seafarers it is a really vital part of making sure that we’re looking after their wellbeing and their welfare.”

The managing director of Insite Communications, Pete Schmidt, said his team had worked with MSQ, GPC, Telstra and the seafarers’ mission on the project.

Two 10-kilogram, suitcase-sized wi-fi boxes valued at about $10,000 can now been moved between ships off Gladstone.

“From my perspective it’s the first we’ve seen in Australia,” Mr Schmidt said.

“The box has a cradle point model which delivers enterprise security for mobile networks and two high gain antennas so that we can work out how to get the best signal.

“The range and security that we have on this solution is significantly better than I’ve seen before so we can go 20 kilometres out to sea.”

Mr Schmidt said the plan was to reduce the cost, weight, and size of the boxes before expanding the project.

“We did this piece of work by invitation of Telstra and they’ve invited us to take the solution and expand it to anywhere in Australia,” he said.

“We’re focused on seafarers at the moment but there a lot of communities that are stuck.

“This is basically instant connectivity so I can see that we’ll have a bit more work ahead of us to help people stay connected in remote environments.”

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The small business guide to international expansion


Whether your eCommerce business is 100 years or one month old, there’s one thing that most online store owners agree you should be preparing for from day one: cross-border eCommerce.

When you think about cross-border eCommerce, your mind likely sees the massive opportunity. It’s hard to miss a $4.5 trillion market that’s been on an upward trajectory for the past decade.

Over half (57 per cent) of global online shoppers make purchases from overseas retailers. So, if you’re an eCommerce store owner, you’re likely already selling internationally. This means you may have profited from this global market without even allocating resources, laying out supporting infrastructure, and developing a go-to-market (GTM) strategy.

The opportunity is clearly there.
But the real question is: is your store up for cross-border success? To truly
compete in this massive market, you have to nail the global customer
experience.

When should you start planning
for cross-border expansion?

At what stage should businesses
start planning to expand and sell internationally? In my view, there’s
absolutely no reason you shouldn’t be preparing for cross-border commerce from
day one.

Think about it, aside from the obvious upside, the barriers to entry are zero and you can dip your toes to test the market (almost) risk-free.

Now, you may be thinking, “Why should I prepare from day one if I’m not considering expanding cross-border?”

The short answer is because your competitors are. And even if you aren’t in a saturated, local market, the competition will inevitably saturate it. So now that it’s clear that you need to set your e-commerce store up for cross-border success, let’s explore the two approaches you need to have in mind.

How to approach to international expansion

Without proper planning and
testing, expanding cross-border can be an expensive waste of time. You need a
clear plan on how you’re going to dip your toes into the market.

1. Test first, scale second

The biggest mistake you can make

in business is making a significant upfront investment before validating your
product and understanding how your brand resonates with target customers. The
only way to avoid this is through low-cost experimentation.

You need to rigorously test,
distil key learnings, and iterate. That’s the core of a key framework outlined
in the Lean Startup: Test – Learn – Iterate. At every iteration, the most
valuable yield is a key learning.

Lucky for us, the plethora of
tools we have at our disposal have allowed for rapid testing with minimal cost.
For example, you can easily test your products on marketplaces that serve your
target region or country to understand what works before going all in.

The catch here is that the only
way to know if your experiment was a success is to plan and commit for long
enough to collect data that will point you in the right direction.

2. Plan, commit and invest enough to get a clear picture of success

In order for your testing to be
effective, you need to commit and invest enough resources to get a
comprehensive picture of success.

That means you need to have your e-commerce website optimised for international channels by localising currencies, language, and the overall customer experience. But without localising your website, you’ll have skewed data.

You also need accurate data to
tell you to keep doing more of what you’re doing or to stop and test something
new. Once you find out what works, double-down on what you’re doing and devote
80 per cent of your time and resources.

To limit the time and resources
you invest during testing, you need to:

  • Set specific, tangible goals (a singular, numerical value works best).
  • Set a short timeline to bound yourself to artificial time constraints.

Come back from the losses of the
past year and get the ball rolling on your business’ expansion plan now. You’ll
thank yourself later!

Neil Luo, Head of Growth, Airwallex



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Stock Market Rally ‘Mostly Dead’; Boeing Leads As Amazon, Zoom Break Long-Term Support| Investor’s Business Daily


Dow Jones futures were little changed late Wednesday, along with S&P 500 futures and Nasdaq futures. The Dow Jones fell modestly while the Nasdaq tumbled to fresh lows, but the stock market rally isn’t “all dead” yet.




X



For real economy stocks, Wednesday was normal or even positive. Boeing (BA), Citigroup (C), Flagstar Bancorp (FBC) and Avient (AVNT) cleared buy points or early entries.

The sell-off in growth stocks continued with the Nasdaq undercutting its Feb. 23 intraday. Stay-at-home plays Amazon.com (AMZN), Zoom Video (ZM), Teladoc Health (TDOC), Datadog (DDOG) and 2U Inc. (TWOU) all broke below long-term support, Tesla (TSLA) retreated to a 2021 closing low while Nvidia (NVDA), Roku (ROKU) and ServiceNow (NOW) tumbled decisively below their 10-week lines.

Marvell Technology (MRVL), Snowflake (SNOW), Okta (OKTA) and Splunk (SPLK) headlined earnings late Wednesday. But all of these tech stocks were breaking down or broken heading into quarterly results, falling sharply on Wednesday.

Marvell earnings were in line and guidance mixed. Snowflake reported strong revenue growth while Okta and Splunk beat views. Okta stock tumbled overnight on a $6.5 billion acquisition. Marvell fell modestly while SNOW stock reversed higher. Splunk stock, which is at 10-month lows, rose solidly.

Tesla stock and Nvidia are on IBD Leaderboard. ServiceNow stock is on IBD Long-Term Leaders list. Tesla and Nvidia stock are on the IBD 50.

Dow Jones Futures Today

Dow Jones futures were roughly flat vs. fair value. S&P 500 futures and Nasdaq 100 futures edged lower.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.


Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live.


Coronavirus News

Coronavirus cases worldwide reached 115.72 million. Covid-19 deaths topped 2.57 million.

Coronavirus cases in the U.S. have hit 29.44 million, with deaths above 531,000.

Stock Market Rally Wednesday

The stock market rally sold off, closing at session lows. Real economy names held up while tech giants retreated and speculative names sold off.

The Dow Jones Industrial Average fell 0.4% in Wednesday’s stock market trading after being slightly positive for most of the session. Boeing stock was a key Dow winner, but Apple (AAPL) and Microsoft (MSFT) weighed on blue chips. The S&P 500 index slumped 1.3%, back below its 21-day line but holding just above its 50-day. The Nasdaq composite tumbled 2.7%, knifing through its 50-day line and undercutting its Feb. 23 low.

The 10-year Treasury yield rose 6 basis points to 1.47% after pulling back in recent days. The strong uptrend in long-term sovereign bond yields has pressured the stock market rally, especially speculative growth.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) skidded 3.5%, while the Innovator IBD Breakout Opportunities ETF (BOUT) slumped 3.25%.  The iShares Expanded Tech-Software Sector ETF (IGV) retreated 4.1%, with Zoom Video and NOW stock notable components. The VanEck Vectors Semiconductor ETF (SMH) lost 3.15%. NVDA stock is a top SMH holding.

Reflecting more-speculative story stocks, Ark Innovation ETF tumbled 5.9% and Ark Genomics ETF 6.3%. Both undercut recent lows, with ARKK closing below them.

Tesla is the top holding across Ark Investment’s ETFs, including ARKK. Teladoc and Roku stock also are top-five Ark holdings while Ark bought a lot Zoom stock on Tuesday.  Ark also holds sizeable stakes in many smaller, less-liquid names. Those will be hard to exit, especially with Ark Invest disclosing much of its daily buys and sells.

Boeing Stock Briefly Breaks Out

Dow Jones giant Boeing (BA) climbed 2.4% to 228.56. Intraday, shares hit 235.40, breaking out from a 229.71 cup-with-handle buy point on a weekly chart. Citigroup stock rose 3% to 70.38, clearing a 69.52 cup base buy point, according to MarketSmith analysis. But Citi’s breakout comes weeks after Goldman Sachs (GS), JPMorgan Chase (JPM) and even Wells Fargo (WFC).

Avient stock popped 5%, breaking out of a cup base in huge volume. Flagstar stock climbed 3%, rebounding bullishly from its 10-week line as its builds the right side of its flat base. FBC was Wednesday’s IBD Stock Of The Day. Avient stock was Tuesday’s.

Amazon, Zoom Video Break 200-Day

Amazon, Zoom Video, Teladoc, Datadog and TWOU stock fell below their 200-day moving averages. AMZN stock fell 2.9% while the other four retreated 3.75%-9.5%. For Zoom and Datadog stock, it was their first-ever closes below the 200-day.

Amazon stock is one of a handful of trillion-dollar companies.

Zoom stock is perhaps the ultimate coronavirus play, though Amazon, Teladoc also have thrived in the pandemic, along with cloud-based Datadog and 2U. As vaccinations ramp up and Covid restrictions ease, investors are betting richly valued at-home companies will see slower growth.

Teladoc stock, Datadog and 2U broke out to new highs just a few weeks ago.

Tesla stock fell 4.8% to 653.20, the lowest close since Dec. 23 but above last week’s intraday low of 619. Roku stock fell 5.2%, Nvidia 4.5% and ServiceNow 6.1%.

Stock Market Rally ‘Mostly Dead’

Is this a violent stock market rotation out of growth, or the beginning of a tech-led market correction? Strictly looking at the Nasdaq and tech leaders, this looks like a stock market correction. But the Dow Jones and cyclical sectors held up well while the S&P 500 index is still above its 50-day line, barely.

The market rally may be “mostly dead,” to quote Miracle Max from “Princess Bride,” but that’s still “slightly alive.” But where’s Miracle Max to revive the rally? At this point, any more weakness would likely push the “mostly dead” rally to “all dead.” On the flip side, it would take a lot to bring the market rally fully back to life, much like Princess Bride’s Wesley.

This is an important day to read The Big Picture to stay in sync with the market direction and leading stocks and sectors.

One thing’s for sure, growth, especially speculative growth, is out of favor. This stocks could bounce back quickly or several weeks or months from now, while some may never bounce back.

Don’t focus on 2020 winners like Zoom stock or Datadog if they’re performing poorly now.

Investors should be taking a defensive stance, at least with tech names. If your stocks are losing, either you’re out of sync with the market or the market itself is out of sync. Consider moving more into mining, industrial, agricultural and financial stocks. But if the entire market rolls over decisively, recent relative winners will likely crumble too.

Cash is king in a correction, and holding a lot of it in the current market climate is a wise choice.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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Eight people stabbed in suspected terrorist attack, say Swedish police : worldnews


Most of these immigrants can’t or simply don’t want to adapt to european countries. Everyone in trouble should be given the opportunity to enter and stay in a country, but don’t come there and start making shit like you are in your own country. No country is forced to take you if you can’t adapt. Sweden is slowly becoming a muslim ghetto.Many of you might say that I am wrong but just take a look at the crime statistics and no go zones and see that these are all done by a large majority of muslims. Rape has increased, stabbings, killings. Why does everyone believes that europe is responsible for these people? There are rich arab countries that should take them yet they don’t because even they know that most of these people will cause trouble

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“Ball is in DMK’s court,” says Tamil Nadu Congress chief K S Alagiri on seat sharing


CUDDALORE (TN): Tamil Nadu Congress Committee president K S Alagiri on Wednesday said the ‘ball is the DMK’s court’ on seat-sharing for the April 6 assembly elections.

The second round of parleys between the two allies was on the verge of conclusion. Progress in such matters could be taken forward only step by step and not at one go, he told reporters, responding to a question on the talks with the DMK.

To a question on the number of seats his party has sought from the DMK, he said such things were being speculated and it was not important.

“The ball is in their (DMK’s) court,” he said adding, “hence, it is the DMK which has to decide (seat-sharing).”

The number of seats to be fought by the Congress has to be determined, he said.

Replying to a question, he denied the Congress had made a ‘climb-down’ on the number of seats it sought from the DMK.

Some issues needed to be resolved only through dialogue and there was no room for bargain among allies, he said.

The DMK, eyeing to capture power after being in opposition for ten years, has allotted three seats to the Indian Union Muslim League and two to Manithaneya Makkal Katchi.

In the 2016 assembly polls, Congress was allotted 41 seats and it had won seven of them.

On party leader Rahul Gandhi not speaking about the DMK alliance during his recent campaign in Tamil Nadu, he said the assembly election was all about propaganda against the governments at the state and Centre, led by allies the AIADMK and the BJP respectively.

During his tour, Gandhi made a mention about DMK chief M K Stalin’s leadership in Tamil Nadu and similarly, the Dravidian party president too remarked on the former Congress president, Alagiri said.

The practice during campaigns was not to focus on allies throughout, he said.



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International Criminal Court to probe possible war crimes in Occupied Palestinian Territories


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“My office will take the same principled, non-partisan, approach that it has adopted in all situations over which its jurisdiction is seized.”

Bensouda, who will be replaced by British prosecutor Karim Khan on June 16, said in December 2019 that “war crimes have been or are being committed in the West Bank, including East Jerusalem, and the Gaza Strip”.

The UN recognises the Occupied Palestinian Territories as the West Bank, including East Jerusalem, and the Gaza Strip – disputed territory claimed by Israel.

She named both the Israeli Defence Forces and armed Palestinian groups such as Hamas as possible perpetrators.

The next step will be to determine whether Israeli or Palestinian authorities have investigations themselves and to assess those efforts.

‘Long-awaited step’

Israel’s government on Wednesday called the court “morally and legally bankrupt”.

“The decision to open an investigation against Israel is an exception to the mandate of the tribunal, and a waste of the international community’s resources by a biased institution that has lost all legitimacy,” Foreign Minister Gabi Ashkenazi said.

There was no immediate comment from Israeli Prime Minister Benjamin Netanyahu. When the court ruled on jurisdiction, he said: “When the ICC investigates Israel for fake war crimes, this is pure anti-semitism.”

The Palestinian Authority welcomed the prosecutor’s investigation.

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It is “a long-awaited step that serves Palestine’s tireless pursuit of justice and accountability, which are indispensable pillars of the peace the Palestinian people seek and deserve”, the Palestinian Authority’s foreign ministry said in a statement.

The Islamist militant group Hamas defended its own actions in the conflict.

“We welcome the ICC decision to investigate Israeli occupation war crimes against our people. It is a step forward on the path of achieving justice,” Hazem Qassem, a Hamas spokesman in Gaza, said.

Balkees Jarrah, associate international justice director at Human Rights Watch, said ICC member countries needed to stand by to fiercely protect the court’s work from political pressure.

The ICC is a court of last resort established to prosecute war crimes, crimes against humanity and genocide when a country is unable or unwilling to do so.

The prosecutor’s office was targeted by sanctions under former US President Donald Trump in response to its investigation in Afghanistan, which is examining the role of US forces.

Reuters

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Instacart valuation more than doubles to $39 billion with latest funding round



FILE PHOTO: Instacart employee Eric Cohn, 34, searches for an item for a delivery order in a Safeway grocery store while wearing a respirator mask to help protect himself and slow the spread of the coronavirus disease (COVID-19) in Tucson, Arizona, U.S., April 4, 2020. REUTERS/Cheney Orr

March 2, 2021

(Reuters) – Instacart has more than doubled its valuation in less than six months to $39 billion with a $265 million fundraising round from existing investors, as the grocery delivery company benefits from a surge in online orders during the COVID-19 pandemic.

The San Francisco start-up, whose transaction volumes surged sixfold last year as doorstep delivery boomed during lockdowns, said on Tuesday it plans to use part of the new funds to increase its corporate headcount by an estimated 50% in 2021.

The company was valued at $17.8 billion in November following the closing of a previous funding round. That same month, Reuters reported Instacart had picked Goldman Sachs Group Inc to lead its initial public offering at around a $30 billion valuation.

Its latest cash injection comes just a few months after California backed a ballot proposal that upheld the status of app-based delivery drivers as independent contractors- a major boost for the likes of Instacart and Uber Technologies Inc, which rely on people to work independently and not as employees.

The new funding round was led by Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Co and T. Rowe Price Associates.

(Reporting by Uday Sampath in Bengaluru; Editing by Devika Syamnath)



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China Is Not Ten Feet Tall


China, the story goes, is inexorably rising and on the verge of overtaking a faltering United States. China has become the largest engine of global economic growth, the largest trading nation, and the largest destination for foreign investment. It has locked in major trade and investment deals in Asia and Europe and is using the Belt and Road Initiative—the largest development project of the twenty-first century—to win greater influence in every corner of the world. It is exporting surveillance tools, embedding technology in 5G communications networks, and using cyber-capabilities to both steal sensitive information and shape political discourse overseas. It is converting economic and political weight into military might, using civil-military fusion to develop cutting-edge capabilities and bullying its neighbors, including U.S. allies and partners such as Australia, India, and Taiwan. And at home, it is ruthlessly cracking down everywhere from Hong Kong to Xinjiang, with little concern about criticism from the United States and other democratic governments.

Among the most eager purveyors of this story line are China’s government-affiliated media outlets. Projecting self-assurance, they have also gone out of their way to contrast their own achievements with plentiful examples of American dysfunction. They point to images of insurrectionists storming the U.S. Capitol and of American citizens standing in line for water during power outages in Texas as evidence of the decay of “Western democracy.” They celebrate China’s success in “defeating” COVID-19 and reopening the country, while the United States and other Western countries still struggle to stop the spread of the virus. “Time and momentum are on our side,” Chinese President Xi Jinping declared in a speech at the Communist Party’s Fifth Plenum last fall. In January, Chen Yixin, a top security official, told a Chinese Communist Party study session, “The rise of the East and decline of the West has become a trend.”

Authoritarian systems excel at showcasing their strengths and concealing their weaknesses. But policymakers in Washington must be able to distinguish between the image Beijing presents and the realities it confronts. China is the second most powerful country in the world and the most formidable competitor the United States has faced in decades. Yet at the same time, and in spite of its many visible defects, the United States remains the stronger power in the U.S.-Chinese relationship—and it has good reason to think it can stay that way. For all the obstacles facing the United States, those facing China are considerably greater.

During the Cold War, Secretary of Defense James Schlesinger cautioned against “ten-foot-tall syndrome”: the tendency among U.S. policymakers to view their Soviet competitors as towering figures of immense strength and overwhelming intellect. A similar syndrome has taken hold in the United States today, and the harms are not just analytical. Concentrating on China’s strengths without accounting for its vulnerabilities creates anxiety. Anxiety breeds insecurity. Insecurity leads to overreaction, and overreaction produces bad decisions that undermine the United States’ own competitiveness. Seeing China clearly is the first step toward getting China policy right.

THE MISMEASURE OF THE MIDDLE KINGDOM

China poses the most direct test of U.S. foreign policy in decades. Not since the Cold War has a country seriously contested U.S. leadership in multiple regions of the world simultaneously. The combination of military strength, economic weight, and global ambition makes China a different—and more complex—challenge than the Soviet Union presented during the Cold War.

In recent years, Beijing has made plain its revisionist ambitions. It seeks adjustments to the distribution of power in the international system, the security order in Asia, the role and remit of international institutions, the free flow of uncensored information across borders, and the liberal nature of the existing international order. It wants its Leninist political model and state-led economic model to be accepted and respected. It has signaled that it will brook no challenges to its conception of its territorial boundaries or its management of domestic affairs. And it has declared a national goal of becoming the world leader in a growing number of advanced technologies, from artificial intelligence to electric vehicles.

But it is hardly a foregone conclusion that China will travel a linear path toward realizing its goals. For an accurate measure of the challenges China poses to U.S. interests, Beijing’s strengths must be evaluated alongside its vulnerabilities. Xi and his advisers face as stiff a set of challenges as almost anyone else in the world.

The United States remains the stronger power in the U.S.-Chinese relationship.

Consider China’s seemingly unstoppable economic ascent. In reality, the challenges over the medium term are significant. China is at risk of growing old before it grows rich, becoming a graying society with degrading economic fundamentals that impede growth. The working-age population is already shrinking; by 2050, China will go from having eight workers per retiree now two workers per retiree. Moreover, it has already squeezed out most of the large productivity gains that come with a population becoming more educated and urban and adopting technologies to make manufacturing more efficient. China is running out of productive places to invest in infrastructure, and rising debt levels will further complicate its growth path. In the past decade alone, China’s debt has more than doubled, from 141 percent of GDP in 2008 to over 300 percent in 2019. Ballooning debt will make it harder for China to buy its way up the ladder from low-end manufacturing to high value-added production, as South Korea and Taiwan did at similar levels of development.

Meanwhile, the political system is growing increasingly sclerotic as power becomes more concentrated around Xi. Once renowned for technocratic competence, the Chinese Communist Party is becoming better known for Leninist rigidity. Space for local policy experimentation appears to be shrinking, as more decisions become concentrated in Beijing. The top-down nature of the system has also made it more difficult for officials to revisit past decisions or report bad news to the top. This dynamic likely contributed to the slow early response to the outbreak of COVID-19 in Wuhan. Although the leadership has made notable gains in alleviating extreme poverty, it also has become increasingly anxious and uncompromising in clamping down on perceived challenges to its authority. Beijing’s rigid ethos for imposing its will along the country’s peripheral regions, including but not limited to Xinjiang, may bring future problems. Externally, China faces formidable obstacles to its ambitions. Beijing’s repression at home, assertiveness abroad, and efforts to conceal critical initial details surrounding the coronavirus pandemic have contributed to rising negative views toward China. According to Pew polling from October 2020, unfavorable views of China have reached historic highs across a diverse set of countries. Beijing is also likely to encounter rising budgetary constraints on its massive overseas initiatives in the coming years, as it contends with both a cooling economy and rising demands from an aging society.

From a strategic perspective, China’s military likely will remain relatively constrained for the foreseeable future in its ability to project force beyond its immediate periphery, let alone to marry power projection with political and economic influence on a global scale—definitional features of a superpower. China confronts a uniquely challenging geography. It is bordered by 14 countries, four of which are nuclear armed and five of which harbor unresolved territorial disputes with Beijing. These include an aging but wealthy Japan, a rising and nationalistic India, a revanchist Russia, a technologically powerful South Korea, and a dynamic and determined Vietnam. All these countries have national identities that resist subordination to China or its interests. And the United States maintains a constant forward-deployed military presence in the region, supported by basing and access agreements in countries along China’s periphery.  

China is also vulnerable when it comes to food and energy security. It lacks enough arable land to feed its population and imports roughly half its oil from the Middle East. In a conflict, Chinese naval capacity would be insufficient to prevent China from being cut off from vital supplies. Beijing is working to address this vulnerability, but there are no quick or easy solutions.

THE CASE FOR SELF-CONFIDENCE

Washington’s bipartisan move in recent years to a hard-line approach to China has been driven above all by Beijing: Chinese leaders have grown more impatiently aggressive in the pursuit of their ambitions and have increasingly leaned on nationalism, particularly as ideology and economic performance have become diminishing sources of social cohesion. But much of the shift in Washington has also been driven by a growing sense of panic about China’s strengths, leading to a bout of American insecurity.

Such panic is unlikely to prove constructive: an alarmed focus on degrading China’s strengths risks causing the United States to focus too little on the more essential task of bolstering its own. Any attempt to use the China threat to spur domestic reform or overcome domestic division is likely to do more harm than good. At home, inflating the China threat will encourage the political weaponization of the issue, with China serving as a tool for ambitious politicians to discredit opponents for being weak. Abroad, such an approach will widen divisions with allies and partners, almost none of whom share Washington’s view that China is an existential threat. And it is likely to encourage policies that in an effort to harm China, end up doing equal or greater harm to the United States—including by foreclosing coordination with Beijing on issues of vital importance to Americans.

It is hardly a foregone conclusion that China will travel a linear path toward realizing its goals.

The Trump administration’s trade policies offer a clear demonstration of this dynamic. Tariffs on Chinese imports were sold as a tool to compel Chinese capitulation to U.S. concerns about unfair trading practices. In fact, they had little success in forcing desired economic changes in China, and they triggered Chinese retaliation that did plenty of harm in the United States: a rising trade deficit, losses to U.S. farmers that resulted in a $28 billion bailout, and the elimination of an estimated 245,000 jobs.  

The United States has good reason to be confident about its ability to compete with China. The U.S. economy is still $7 trillion larger than China’s. The United States enjoys energy and food security, comparatively healthy demographics, the world’s finest higher education system, and possession of the world’s reserve currency. It benefits from peaceful borders and favorable geography. It boasts an economy that allocates capital efficiently and traditionally serves as a sponge for the brightest thinkers and the best ideas in the world. It has a transparent and predictable legal system and a political system that is designed to spur self-correction. China has none of these attributes.  

Self-confidence should foster a steady, patient, and wise response to China’s rise—one that can attract broad support at home and abroad. Some elements of this approach will require standing up to Chinese actions that challenge U.S. interests and values even while pushing Beijing to contribute more to efforts to address transnational challenges, such as building a global disease surveillance network and decarbonizing the global economy. At the same time, U.S. policymakers will need to accept that coexistence means accepting competition as a condition to be managed rather than a problem to be solved, as Kurt Campbell and Jake Sullivan (now White House Asia coordinator and national security adviser, respectively) argued in these pages in 2019. Above all, the United States will need to “measure up to its own best traditions and prove itself worthy of preservation as a great nation,” as George Kennan put it early in the Cold War.

The more the United States can restore confidence that it is the country best prepared in the world to meet the challenges of the twenty-first century, the better it will be able to focus attention where it matters most: not on slowing China down but on strengthening itself. To compete effectively with China, Washington will need to focus on bolstering the United States’ domestic dynamism, international prestige, and unmatched global network of alliances and partnerships. These are the real keys to the United States’ strength, and China cannot take them away.

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