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Biden's Crackdown On Chinese Tech Investment

This week, the Biden administration stepped up its crackdown on Chinese technology in what is becoming the global conflict of the century. In this latest phase, an executive order signed Wednesday blocks and regulates U.S. investments in Chinese technology, covering everything from advanced computer chips and micro-electronics to quantum IT and AI. This is where national security begins to trump macroeconomics. It’s a stark choice between economics and world technological dominance, and only the latter can be a winning choice in the longer term.

The aim of the executive order is to undermine China’s ability to take advantage of U.S. investment dollars in its booming high-tech sector–advancements that are then used to boost its military. The hope is that the move to help keep China’s aim of world technological domination in check will not harm the U.S. economy. But it won’t be that simple, even if it is a geopolitical necessity. There is no way for a free-market democracy to go to war on this level with an authoritarian one-party behemoth that maintains vast control over its key industries and its general population without interfering in big business to some extent. There will be major supply chain disruptions and a massive shakeup of financing for huge projects. It is a necessary sacrifice.

In terms of energy, China’s dominance in certain sectors is hindering U.S. ambitions to shift to clean energy. While America’s oil…

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  • George Kafantaris on August 11 2023 said:
    China’s lasting power and influence rest in its economy. Why endanger any of it — and put the world and itself on edge — by pursuing the troublesome dream of unification with Taiwan? So little to be gained and so much to lose.

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