Screening US funds for Chinese language tech raises query: Which tech?
The Biden administration and lawmakers are drawing up plans to display and doubtlessly prohibit U.S. funding flowing to China’s tech sector, however the effort is already sparking debate about how far-reaching it ought to be.
Regardless of the widespread concern about sharing expertise with China, the administration nonetheless has to determine whether or not screening and restrictions ought to cowl solely funding in semiconductors, quantum computing and synthetic intelligence or embrace sectors equivalent to prescription drugs, essential minerals and others.
“Outbound funding into sure industries or sectors might find yourself getting used in opposition to us, particularly in these areas the place there’s military-civilian fusion of expertise,” mentioned Rep. Raja Krishnamoorthi, D-Ailing., the highest Democrat on the Home Choose Committee on the Strategic Competitors Between the U.S. and the Chinese language Communist Occasion. “However, once more, I believe that we have to take a scalpel to this versus a sledgehammer.”
The committee’s work is meant to uncover financial and different ties that allow Beijing to realize a bonus over Washington, Krishnamoorthi mentioned in an interview.
“And no approach ought to we empower the CCP to have the ability to use expertise or cash or investments in opposition to us,” Krishnamoorthi mentioned. “Definitely, in a safety or navy sense, and doubtlessly economically, however on the similar time we’ve to watch out about harming our personal pursuits.”
