The Biden administration has set it out in a striking recent address by national security adviser Jake Sullivan. Sullivan outlines the administration’s international economic policy, but it is really the overarching framework for President Biden’s approach to the world.

Sullivan is a fiercely intelligent thinker and skilled policymaker who has come to dominate policy in the administration. His speech showcases these talents, and many of the specific initiatives are smart and worth pursuing.

But the overall approach left me worried, along three broad dimensions.