The United States is grappling with two of the biggest challenges it has ever faced: the rise of China and the threat of catastrophic climate change. At home, the Biden administration has forged a green industrial policy that could transform the U.S. economy. But as China threatens to dominate the global market for clean energy, it is not enough to invest domestically, Brian Deese argues in a new Foreign Affairs essay. Deese has been at the center of climate and economic policymaking for over a decade. He served as the director of the National Economic Council in the Biden administration, where he was one of the key architects behind the Inflation Reduction Act. During the Obama years, he helped lead the auto bailout and negotiate the Paris agreement on climate change. Now, he has a plan for the United States to lead the global energy transition on its own terms. You can find transcripts and more episodes of The Foreign Affairs Interview at https://www.foreignaffairs.com/podcasts/foreign-affairs-interview.