PART II: INVESTING IN OUR STRENGTH “As we look ahead, we will lead. We will lead on all the greatest challenges of our time—from COVID to climate, peace and security, human dignity and human rights. But we will not go it alone. We will lead together with our Allies and partners and in cooperation with all those who believe, as we do, that this is within our power to meet these challenges, to build a future that lifts all of our people and preserves this planet. But none of this is inevitable; it’s a choice. And I can tell you where America stands: We will choose to build a better future.” PRESIDENT JOSEPH R. BIDEN, JR 76th Session of the United Nations General Assembly Investing in Our National Power to Maintain a Competitive Edge To outcompete our rivals and tackle shared challenges, America will need to maintain and refine its competitive edge by making critical domestic investments. In an interconnected world, there is no bright line between foreign and domestic policy. The future of America’s success in the world depends upon our strength and resilience at home—and especially the strength of our middle class, which is critical to our national security as an engine of economic growth and a key source of democratic vibrance and cohesion. The reverse is also true. Our success at home requires robust and strategic engagement in the world in line with our interests and values to make life better, safer, and fairer for the American people. That is why we must make far-reaching investments in the sources of our natural strength while building our resilience. Implementing a Modern Industrial and Innovation Strategy The private sector and open markets have been, and continue to be, a vital source of our national strength and a key driver of innovation. However, markets alone cannot respond to the rapid pace of technological change, global supply disruptions, nonmarket abuses by the PRC and other actors, or the deepening climate crisis. Strategic public investment is the backbone of a strong industrial and innovation base in the 21st century global economy. That is why the United States is pursuing a modern industrial and innovation strategy. We are identifying and investing in key areas where private industry, on its own, has not mobilized to protect our core economic and national security interests, including bolstering our national resilience. We are securing our critical infrastructure, advancing foundational cybersecurity for critical sectors from pipelines to water, and working with the private sector to improve security defenses in technology products. We are securing our supply chains, including through new forms of public-private collaboration, and using public procurement in critical markets to stimulate demand for innovation. In 2021, we boosted our competitiveness by enacting the largest investment in physical infrastructure in nearly a century, including historic investments in 14 NATIONAL SECURITY STRATEGY