Its success reflects the fact that Democrats and Republicans, for all their differences, are united on America’s need for for China to adopt a tougher and more competitive approach Struggle for supremacy between the two countries.
The bill’s text states that America’s global dominance is being “destroyed and challenged by foreign competitors, some of whom are stealing the United States’ intellectual property and trade secrets and dominate key existing and future technology areas.” are investing aggressively in research and commercialization to dominate.”
It warns: “Without a significant increase in investment in research, education, technology transfer, intellectual property, manufacturing, and other major powers of the United States’ innovation ecosystem, it is only a matter of time before the United States’ global competitors will continue to grow.” surpasses the United States in terms of technological primacy.”
The bill allocates US$50 billion ($65 billion) over five years to boost the domestic manufacturing of semiconductors in the US. The move is aimed at reducing America’s dependence on Chinese manufacturing and combating global chip shortages that have disrupted supply chains for cars, smartphones and other electronic devices.
Another US80 billion ($103 billion) will be spent on artificial intelligence, robotics and biotechnology, as well as US1.5 billion ($1.9 billion) to foster innovation in advanced wireless technologies such as 5G and 6G.
The law requires that iron, steel, and other building materials be produced to be used in federally funded infrastructure projects in the United States.
It also directs the US Secretary of State to publish a list of all state-owned enterprises in China that have engaged in forced technology transfer or intellectual property theft.
The bill will now go to the Democrat-controlled House, where it is expected to pass with amendments before going to Biden’s desk.
The president welcomed the passage of the bill in the Senate, saying he looked forward to signing it into law as soon as possible.
“We are in a race to win the 21st century, and the starting gun is out,” Biden said in a statement.
The US would need more than one law to stop China’s economic growth.
But members of the US Senate have shown they are aware of the enormous task ahead of them, and bipartisanship in American politics is not entirely dead.
The Chinese National People’s Congress expressed “strong outrage and steadfast opposition” to the bill, saying it was an “attempt to halt China’s development”.
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