Connect with us

World

Explained: How the United States Plans to Counter China’s Global Industrial Influence | India News

Published

on

Explained: How the United States Plans to Counter China’s Global Industrial Influence |  India News
NEW DELHI: The United States Senate on Tuesday approved a comprehensive industrial policy bill aimed at countering the growing economic threat from rival China by injecting more than $ 170 billion into research and development.
With Republicans and Democrats increasingly concerned about competition from Asia’s greatest power, the US Senate on Wednesday passed the bill with a vote of 68 to 32, one of the most important bipartisan achievements in Congress. since Joe Biden’s presidency began in January.
“We are in a competition to win the 21st century, and the starting shot has exploded,” Biden said.
“As other countries continue to invest in their own research and development, we cannot risk being left behind. America must maintain its position as the most innovative and productive nation on Earth,” Biden said.
Senate Majority Leader Chuck Schumer said: “Countries that best harness technologies such as artificial intelligence, robotics and quantum computing will be able to shape innovation in their image.”

What is the Law of Innovation and Competition?
It is an industrial policy bill intended to counter the growing economic threat from rival China.
It also represents the largest investment in scientific research and technological innovation “in generations,” according to Senate Majority Leader Chuck Schumer.
The bill is seen as crucial to America’s efforts to avoid being overtaken by Beijing as adversaries compete in the race for technological innovation.
While Senate Top Republican Mitch McConnell stressed that the measure remained “incomplete,” it nonetheless passed by a healthy margin, highlighting how the nation’s competition with China is one of the few issues that can unite Republicans. and contending Democrats.
What does the bill propose?

  • The proposal aims to address a number of technology areas in which the United States has lagged behind its Chinese competitors.
  • The bill allocates $ 52 billion in funding for a previously approved plan to increase domestic semiconductor manufacturing. A summary of the Senate legislation notes how China is “aggressively investing more than $ 150 billion” in semiconductor manufacturing to control advanced technology.

  • It also authorizes $ 120 billion over five years for activities at the National Science Foundation to advance priorities, including research and development in key areas such as artificial intelligence (AI) and quantum science.
  • Facilitates ties between private companies and research universities.
  • The bill also seeks to counter Beijing’s growing global influence through diplomacy, working with allies and increasing the United States’ involvement in international organizations after the former Republican president. Donald trumpAmerica First Agenda.
  • It would also allow diplomats and the Taiwanese military to display their flag and wear their uniforms while in the United States on official business.
  • The bill would authorize POT Spending and his mission Artemis to the Moon. “As China has made clear, they are going to Mars, we are going back to the Moon to prepare to go to Mars,” Sen. Maria Cantwell said.
  • It proposes blocking the purchase of drones manufactured and sold by companies backed by the Chinese government.
  • It would also create new and comprehensive mandatory sanctions for Chinese entities involved in US cyberattacks or theft of US intellectual property from US companies, and provides for a review of export controls for items that could be used to support human rights abuses.
  • The bill has provisions to prohibit the social media app TikTok from being downloaded to government devices.

When will the bill go into effect?
The bill now heads to the House of Representatives, which previously passed a different version. The two will need to be reconciled on a single bill before it is sent to the White House for the president’s signature.
What does China say?
Beijing on Wednesday accused Washington of “paranoid delusion” after the US Senate passed a comprehensive industrial policy bill aimed at countering the growing economic threat from China.

The foreign affairs committee of China’s top legislature called the bill an attempt to interfere in the country’s internal affairs and deprive it of its “legitimate right to development through technology and economic decoupling,” the media reported. state.

“The bill shows that the paranoid delusion of selfishness has distorted the original intention of innovation and competition,” the foreign affairs committee of the National People’s Congress said, according to a report by the official Xinhua news agency.
He said the bill was “full of Cold War mentality and ideological biases.”
Biden’s commercial ‘strike force’
President Joe Biden ordered the review of critical supply chains in February, concerned that the United States was falling behind after it struggled to gain access to critical goods during the Covid-19 pandemic.
The United States will target China with a new ‘strike force’ to combat unfair trade practices that the administration says are damaging American supply chains. The group will be led by the US trade representative, which has the power to enforce tariffs against China and other countries.
Here are some of the top recommendations and initiatives developed by US executive agencies:

  • National security fees
    The Commerce Department is considering launching a Section 232 investigation into the national security impact of imports of neodymium magnets used in motors and other industrial applications, which the United States sources primarily from China.
  • Supply bottlenecks
    To address supply bottlenecks, from lumber to steel, that have raised inflation fears, the administration is initiating a task force focused on housing construction and construction, semiconductors, transportation, as well as agriculture and food. .
  • Bringing drug manufacturing to the ground
    The administration will use the Defense Production Law to accelerate efforts to manufacture 50 to 100 critical drugs domestically instead of relying on imports. Biden has already used Korean War-era law to boost production of vaccines and other critical medical supplies in response to the COVID-19 pandemic.
  • Semiconductors
    The Commerce Department would work to “facilitate the flow of information” between chipmakers and end users, increase transparency and address the semiconductor shortage that has held back production of goods, including new cars.
  • Batteries
    The new government task forces will seek to reform mine permitting laws and identify sites where critical minerals in batteries can be produced and processed “while adhering to the highest environmental, labor and sustainability standards,” according to a informational page.
  • The US Development Finance Corporation also wants to expand international investments in critical mineral projects.
  • The Department of Energy will also use $ 17 billion in loans it can make to help high-tech vehicle battery manufacturers.

(With inputs from agencies)

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Advertisement

Lifestyle

The 7 best epic novels you will want to read and reread over and over again The 7 best epic novels you will want to read and reread over and over again
LifeStyle11 hours ago

The 7 best epic novels you will want to read and reread over and over again

Despite concerns about the early pandemic that eventually run out of good TVHonestly, I don’t feel like we’ve ever done...

6 small patio design ideas to make the most of your space 6 small patio design ideas to make the most of your space
LifeStyle11 hours ago

6 small patio design ideas to make the most of your space

I think we can all agree that this summer More than ever We are excited to do each and every...

Food delivery companies are popping up in S’pore, but complaints are on the rise Food delivery companies are popping up in S’pore, but complaints are on the rise
LifeStyle12 hours ago

Food delivery companies are popping up in S’pore, but complaints are on the rise

It seems that negative comments about food delivery companies abound online. A quick glance at the Facebook pages of the...

How are delivery-only food and beverage brands affected in cloud kitchens during MCO? How are delivery-only food and beverage brands affected in cloud kitchens during MCO?
LifeStyle13 hours ago

How are delivery-only food and beverage brands affected in cloud kitchens during MCO?

With dinners banned during closures, many restaurants have had to switch online and offer their wares through delivery and takeout....

Malaysian indie game developer behind The Company Man Malaysian indie game developer behind The Company Man
LifeStyle14 hours ago

Malaysian indie game developer behind The Company Man

At a time when many of us are WFH and lacking office culture (or not, there is no judgment here),...

Coworking and coliving hotel in Gua Musang, Kelantan Coworking and coliving hotel in Gua Musang, Kelantan
LifeStyle16 hours ago

Coworking and coliving hotel in Gua Musang, Kelantan

Only recently have we noticed new coworking space launches in Klang Valley slowing down. Considering the pandemic and travel restrictions,...

4 Nutritionist Approved Healthy Foods on Amazon to Update Your Pantry 4 Nutritionist Approved Healthy Foods on Amazon to Update Your Pantry
LifeStyle1 day ago

4 Nutritionist Approved Healthy Foods on Amazon to Update Your Pantry

In a dream world, healthy, nutrient-dense meals would be easily accessible to everyone. Buying quinoa, leafy greens, and other superfoods...

Where the magic of Tata Harper happens Where the magic of Tata Harper happens
LifeStyle1 day ago

Where the magic of Tata Harper happens

Tata Harper is famous for doing most of the manufacturing of her clean, natural skincare on her farm in Vermont,...

The Best Summer Pasta Salad Recipe You Must Try This Season The Best Summer Pasta Salad Recipe You Must Try This Season
LifeStyle1 day ago

The Best Summer Pasta Salad Recipe You Must Try This Season

I am currently sitting in my parents’ backyard, an oasis in the heart of Northern California, it is my happy...

Top 9 Dating Apps For 30s – Time To Find The Real Deal! Top 9 Dating Apps For 30s – Time To Find The Real Deal!
LifeStyle1 day ago

Top 9 Dating Apps For 30s – Time To Find The Real Deal!

Even if you’re the type of person who loves the thrill of the hunt, the seemingly endless dating carousel can...

Advertisement

Sport

Davante Adams hints again that he could leave the Packers after the season Davante Adams hints again that he could leave the Packers after the season
Sports6 mins ago

Davante Adams hints again that he could leave the Packers after the season

Four-time Green Bay Packers wide receiver Davante Adams is in the final year of his contract and assured everyone earlier...

Canadians emerge as price favorites in NHL playoff series Canadians emerge as price favorites in NHL playoff series
Sports20 mins ago

Canadians emerge as price favorites in NHL playoff series

The Montreal Canadiens can score their ticket to the Stanley Cup final for the first time in 28 years with...

Who is Ime Udoka?  Four things to know about the Celtics’ next head coach Who is Ime Udoka?  Four things to know about the Celtics’ next head coach
Sports27 mins ago

Who is Ime Udoka? Four things to know about the Celtics’ next head coach

The Celtics seem to have found their next head coach. ESPN’s Adrian Wojnarowski reported Wednesday that Boston is closing a...

Stroman ‘optimistic’ about his next outing after injury scare Stroman ‘optimistic’ about his next outing after injury scare
Sports28 mins ago

Stroman ‘optimistic’ about his next outing after injury scare

New York Mets starting right-hander Marcus Stroman gave the club its latest injury scare when he exited Tuesday’s home game...

What would an appearance in the Stanley Cup final mean for the city of Montreal? What would an appearance in the Stanley Cup final mean for the city of Montreal?
Sports42 mins ago

What would an appearance in the Stanley Cup final mean for the city of Montreal?

var adServerUrl = “”; var $ el = $ (“# video_container-789349”); var permalink = $ el.closest (‘. snet-single-article’). data (‘permalink’);...

Chris Paul plans to play Game 3 against Clippers Chris Paul plans to play Game 3 against Clippers
Sports49 mins ago

Chris Paul plans to play Game 3 against Clippers

Barring a setback before Thursday night, the Suns point guard Chris paul intends to return to action for Game 3...

Canucks needed to find positions for Sedins to have an impact and learn Canucks needed to find positions for Sedins to have an impact and learn
Sports1 hour ago

Canucks needed to find positions for Sedins to have an impact and learn

var adServerUrl = “”; var $ el = $ (“# video_container-942522”); var permalink = $ el.closest (‘. snet-single-article’). data (‘permalink’);...

Nationals GM slams ’embarrassing’ Phillies manager Joe Girardi: ‘He’s a con man’ Nationals GM slams ’embarrassing’ Phillies manager Joe Girardi: ‘He’s a con man’
Sports1 hour ago

Nationals GM slams ’embarrassing’ Phillies manager Joe Girardi: ‘He’s a con man’

Joe Girardi: Scammer? Girardi, manager of the 34-36 Phillies, asked umpires to review Max Scherzer for the third time during...

Monty Williams credits Brett Brown and Joe Prunty as game winner Monty Williams credits Brett Brown and Joe Prunty as game winner
Sports1 hour ago

Monty Williams credits Brett Brown and Joe Prunty as game winner

The Phoenix Suns made one of the greatest last-second in-bounds plays in NBA postseason history on Tuesday. Now Suns coach...

Report: Nets’ James Harden Withdrawn From US Olympic Roster Report: Nets’ James Harden Withdrawn From US Olympic Roster
Sports1 hour ago

Report: Nets’ James Harden Withdrawn From US Olympic Roster

Brooklyn Nets star James Harden has taken his name off the US roster for the upcoming Tokyo Olympics due to...

Advertisement

Entertainment

Andrew Yang’s presidential advisers blame his mayoral race advisers for his major failure Andrew Yang’s presidential advisers blame his mayoral race advisers for his major failure
Entertainment9 mins ago

Andrew Yang’s presidential advisers blame his mayoral race advisers for his major failure

For many months during the strangest mayoral campaign season in New York history, it seemed that Andrew Yang what is...

What’s more for June 23, 2021 What’s more for June 23, 2021
Entertainment19 mins ago

What’s more for June 23, 2021

As Stephon would say, this story has it all: baseball, burning phones, church, fraud, charity and lawsuit! I would really,...

Netflix’s new dating show brings out everyone’s inner animal Netflix’s new dating show brings out everyone’s inner animal
Entertainment21 mins ago

Netflix’s new dating show brings out everyone’s inner animal

It’s okay! Who of you put an ounce of dried mushrooms in my tea this morning? First of all, thank...

Gabrielle Union and Dwyane Wade reveal their new baby! Gabrielle Union and Dwyane Wade reveal their new baby!
Entertainment22 mins ago

Gabrielle Union and Dwyane Wade reveal their new baby!

Gabrielle Union and Dwyane Wade revealed their new ‘baby’ that they created together. Take a look at the post he...

David Schwimmer and Jennifer Aniston’s Cutest Quotes About Each Other David Schwimmer and Jennifer Aniston’s Cutest Quotes About Each Other
Entertainment31 mins ago

David Schwimmer and Jennifer Aniston’s Cutest Quotes About Each Other

I’ll be there for you! David schwimmer other Jennifer Aniston stole hearts as Ross Geller and Rachel Green, respectively, during...

Stars of “Teen Mom” ​​who underwent plastic surgery: photos then and now Stars of “Teen Mom” ​​who underwent plastic surgery: photos then and now
Entertainment41 mins ago

Stars of “Teen Mom” ​​who underwent plastic surgery: photos then and now

Complete transformation! Teenage mother stars old and new – like Jenelle Evans, Kailin Lowry, Amber Portwood and much more –...

Harrison Ford was injured rehearsing the ‘Indiana Jones 5’ fight scene Harrison Ford was injured rehearsing the ‘Indiana Jones 5’ fight scene
Entertainment44 mins ago

Harrison Ford was injured rehearsing the ‘Indiana Jones 5’ fight scene

Harrison Ford injured his shoulder while rehearsing a fight scene for Indiana Jones 5th. News Block reports that Harrison Ford,...

New to Netflix: The Best Movies and TV Shows Launching in July New to Netflix: The Best Movies and TV Shows Launching in July
Entertainment52 mins ago

New to Netflix: The Best Movies and TV Shows Launching in July

Atypical: Season 4 (NETFLIX SERIES) Biohackers: Season 2 (NETFLIX SERIES) Castamar’s cook (NETFLIX SERIES) Fear Street Part 2: 1978 (NETFLIX...

Erika Jayne Accused of Failure to Release Bank Records When RHOBH Star’s Attorney Called to Court for Divorce Erika Jayne Accused of Failure to Release Bank Records When RHOBH Star’s Attorney Called to Court for Divorce
Entertainment59 mins ago

Erika Jayne Accused of Failure to Release Bank Records When RHOBH Star’s Attorney Called to Court for Divorce

Erika jayneThe divorce attorney is being called to court to answer questions about his alleged false divorce filing against Thomas...

Cardi B appears in F10, Vin Diesel spills Cardi B appears in F10, Vin Diesel spills
Entertainment1 hour ago

Cardi B appears in F10, Vin Diesel spills

June 23, 2021 Vin Diesel has confirmed that Cardi B will appear in the F10. Vin diesel Rapper Bodak Yellow...

Advertisement

Tech

Microsoft prepares Windows 11 for a post-pandemic world Microsoft prepares Windows 11 for a post-pandemic world
Tech3 mins ago

Microsoft prepares Windows 11 for a post-pandemic world

Microsoft’s top software is about to be revised. Angela Lang / CNET The coronavirus has irrevocably changed the way we...

Antivirus creator John McAfee found dead in prison cell Antivirus creator John McAfee found dead in prison cell
Tech7 mins ago

Antivirus creator John McAfee found dead in prison cell

Former antivirus software creator John McAfee died in what was reported to be a suicide while awaiting extradition to face...

House judiciary passes bill to increase antitrust enforcement budget House judiciary passes bill to increase antitrust enforcement budget
Tech18 mins ago

House judiciary passes bill to increase antitrust enforcement budget

The Judiciary Committee of the US House of Representatives voted to pass a bill to increase the budgets of antitrust...

John McAfee, software pioneer turned fugitive, dies in Spanish prison John McAfee, software pioneer turned fugitive, dies in Spanish prison
Tech26 mins ago

John McAfee, software pioneer turned fugitive, dies in Spanish prison

John David McAfee, the founder of the antivirus software maker that bears his name, died in a prison in Spain...

Shin Megami Tensei V for Nintendo Switch: everything you need to know Shin Megami Tensei V for Nintendo Switch: everything you need to know
Tech30 mins ago

Shin Megami Tensei V for Nintendo Switch: everything you need to know

Source: ATLUS (screenshot) ATLUS first announced the release of Shin Megami Tensei V for Nintendo Switch in November 2017, but...

Apple works with New York Magazine on a ‘journalism project’ Apple works with New York Magazine on a ‘journalism project’
Tech40 mins ago

Apple works with New York Magazine on a ‘journalism project’

New York Magazine is working with Apple on some kind of journalistic project related to the Apple News platform, according...

Peacock and Amazon Reach Agreement to Add Streaming App to Fire TV Devices Peacock and Amazon Reach Agreement to Add Streaming App to Fire TV Devices
Tech47 mins ago

Peacock and Amazon Reach Agreement to Add Streaming App to Fire TV Devices

Angela Lang / CNET Peacock – the partially free and partially paid streaming service of Comcast‘s NBCUniversal – will finally...

You can now play some xCloud games on Xbox Series X-grade hardware You can now play some xCloud games on Xbox Series X-grade hardware
Tech51 mins ago

You can now play some xCloud games on Xbox Series X-grade hardware

Resume: When Microsoft announced the expansion of Xbox Game Pass to televisions, it also said that its data centers were...

Webcomic ‘Strange Planet’ Comes to Apple TV + as an Animated Series Webcomic ‘Strange Planet’ Comes to Apple TV + as an Animated Series
Tech1 hour ago

Webcomic ‘Strange Planet’ Comes to Apple TV + as an Animated Series

Apple TV + has ordered a direct series adaptation of “Strange Planet” with Dan Harmon and Nathan Pyle serving as...

Prime Day Laptop Deals Still Available – Big Savings on MacBook Air, Lenovo, Samsung Galaxy Book Pro and More Prime Day Laptop Deals Still Available – Big Savings on MacBook Air, Lenovo, Samsung Galaxy Book Pro and More
Tech1 hour ago

Prime Day Laptop Deals Still Available – Big Savings on MacBook Air, Lenovo, Samsung Galaxy Book Pro and More

Editor’s note, June 23: Prime Day has officially ended on Amazon, but Walmart sale continues throughout Wednesday. Review the the...

Advertisement
Advertisement