Commentary “It’s the largest American jobs investment since World War II,” President Joe Biden said on March 31 in Pittsburgh, as he announced his $2.3 trillion infrastructure program. “It will create millions of jobs, good-paying jobs.” He is correct. Biden will, in his American Jobs Plan as it’s formally called, create millions of good-paying jobs. Many of those jobs, however, will not be in America. For three principal reasons, his jobs plan will create full employment in China. First, Biden will create substantially more demand for Chinese materials to go into America’s planned physical infrastructure improvements. Second, the large corporate tax increases he proposes will drive even more businesses out of the United States—and across the Pacific. Third, Biden’s “green energy” ideas will eliminate one of the crucial advantages American manufacturers now have: cheap energy. In Beijing, there must be, at the moment, great elation and anticipation. On the first point, America’s infrastructure spending …