Luo Yadong, Van Assche Ari
Miami Herbert Business School, University of Miami, Coral Gables, FL 33146 USA.
Department of International Business, HEC Montréal, Montreal, QC H3T 2A7 Canada.
J Int Bus Stud. 2023 Apr 1:1-18. doi: 10.1057/s41267-023-00620-3.
Growing techno-geopolitical uncertainty affects international business in many ways, calling for more scholarly attention to its causes and multinational enterprise (MNE) responses. The United States CHIPS and Science Act epitomizes the country's recent embrace of techno-nationalism in its economic rivalry with China, which has major implications for IB scholarship and management practice. The Act exhibits two features that fly against America's traditional liberal policy stance of championing an open and rules-based multilateral system. First, its reliance on subsidies, export control, and investment screening signifies departure from free trade and from market-based industrial policies. Second, its use of guardrail provisions pursues the weaponization of global value chains for geopolitical and geo-economic purposes. We view the Act as a showcase of a paradigm shift from market-oriented liberalism to intervention-oriented techno-nationalism, heralding a new era of zero-sum thinking and geopolitical prioritization. By examining the broader trend of techno-nationalism, we explore the distinct features of the Act and analyze the geo-strategies that MNEs need to adopt in response to the resulting techno-geopolitical uncertainty. Our analysis highlights the paradigm shift in policymaking, identifies the root causes of this shift, and examines the potential pitfalls it may create. To navigate this uncertain landscape, we suggest four strategic responses for MNEs: geo-strategies, reconfiguration, resilience, and corporate diplomacy.
日益增长的技术地缘政治不确定性在许多方面影响着国际商务，这需要学术界更多地关注其成因以及跨国企业（MNE）的应对措施。美国的《芯片与科学法案》体现了该国近期在与中国的经济竞争中对技术民族主义的接纳，这对国际商务学术研究和管理实践具有重大影响。该法案呈现出两个有悖于美国支持开放的、基于规则的多边体系这一传统自由主义政策立场的特征。其一，它对补贴、出口管制和投资审查的依赖意味着背离自由贸易和基于市场的产业政策。其二，它使用保障条款是为了将全球价值链武器化，以实现地缘政治和地缘经济目的。我们将该法案视为从市场导向的自由主义向干预导向的技术民族主义范式转变的一个例证，预示着零和思维和地缘政治优先排序的新时代。通过审视技术民族主义的更广泛趋势，我们探究该法案的独特特征，并分析跨国企业为应对由此产生的技术地缘政治不确定性而需要采取的地缘战略。我们的分析突出了决策制定中的范式转变，确定了这一转变的根本原因，并审视了它可能带来的潜在陷阱。为了在这一不确定的局面中前行，我们为跨国企业提出了四种战略应对措施：地缘战略、重新配置、恢复力和企业外交。
