It's an interesting phenomenon right now. As we look at de-risking from China, China is actually beginning to champion free trade rules.
Here we are, based in Washington. The United States is reluctant to sign on to new trade deals, but China is part of some of the biggest, most ambitious trade agreements there are, with the most notable being the CPTPP. Japan has a tremendous role to play in determining which new member countries can join or not. It is acting as a gatekeeper, and Japan is staunchly against China joining the CPTPP. However, among the member countries, there are some that are equally in favour of China's joining.
Herein lies the conundrum. On the one hand, we see a China that does provide economic opportunities. It's trying to position itself as being willing to play by the order that currently exists. On the other hand, we also have a China that is grossly violating the rules, and that has actually contributed to its amazing growth over the past decades. We are seeing it playing up its authoritarian rule, especially when it comes in the form of economic coercion.
One other point I want to make is that I agree with Yuki that there is a great deal of concern in Japan about the outcome of the presidential election in the United States. However, from an economic perspective, the Biden administration has effectively, in principle, carried on the economic policies of Trump. We are expecting a continuum of that positioning, regardless of the election results. That is to say, we're expecting a hardline stance toward China and the prevention of a technology transfer to China.
The end goal is a win when it comes to advanced technology competition, and for the United States to win in the form of being the pioneer of establishing new rules for new technologies and new values when it comes to issues concerning data, science and the like.