“While we must effectively respond to China and others looking to do us harm, we must avoid inadvertently undermining the very policies which made us the leader in turning government funded R&D into cutting edge products. Unfortunately, the initial bureaucratic response is not reassuring on that score.”
When U.S. taxpayers send their hard-earned money to the government, they shouldn’t worry that it’s being used to fuel economic and military growth in China. But that’s exactly what’s happening today. Every year, more than $150 billion in U.S. taxpayer money goes towards cutting-edge research conducted at our excellent network of universities and research institutions, helping us remain the global leader in science and technology.
This past summer, Oxford University was again ranked as the topmost university in the world, according to an article in The Wall Street Journal. While the article dutifully numbered the top universities across the globe, one seemingly small statistic stood out (at least to me). “For the first time, China is now spending more money [on higher education] than any other nation...”
Chang said in an email that anything Beijing can do "will hurt itself more than us, and given how close its economy is to the edge of the cliff the regime could end up doing itself in by retaliating." He continued, "For four decades, we were told by elites and policymakers that we could not afford to upset China. Wednesday, President Trump did what his predecessors would not do -- defend America from a China that is going after us. The same power that is encroaching on Hong Kong’s autonomy is attacking our society across the board."
China could have a significant advantage in a potential conflict if it develops artificial intelligence (AI) before the United States, a commission established to assess the threat China poses warned in its annual report Nov. 14. The commission, the U.S. - China Economic and Security Review Commission, warned that China is prioritizing the development of AI and that such technology could help the nation surpass the United States.
The Communist Party of China has laid plans for a century of unlimited Chinese power and, with it, the end of the American era. However, we still can -- and must -- bet big on the future of American economic power. The best antidote to China’s ambitions is to ensure America’s continued economic and technological preeminence.
While it is critical for President Trump and US allies to eventually succeed in getting the Chinese to discontinue unfair practices like steal intellectual property it is also naïve to believe that doing so will be enough for the United States to win the race to be the global leader in the industries of the future.
China’s economic performance over the past 40 years has been nothing short of miraculous. In 1978, when Deng Xiao-ping became chairman of the Chinese Communist Party, or CCP, China’s GDP was about $150 billion in constant US dollars, according to the World Bank. Last year, 40 years after the transformation Deng initiated in China, its GDP in constant US dollars had soared to over $13 trillion dollars, a rate of growth of roughly 10% a year. In recent years, this growth rate has slowed to around 6%, but the overall rise of China’s economy has been simply astonishing.
...there are lingering questions about whether even smart authoritarian regimes can stay at the cutting edge of innovation while restricting the free flow of information, maintaining a rigidly hierarchical system and enforcing political orthodoxy within its universities. “Until and unless China relaxes its draconian political controls,” writes David Shambaugh, one of America’s leading experts on China, “it will never become an innovative society and a ‘knowledge economy.’”
The Department of Commerce has again extended the temporary general license allowing American companies to sell to Huawei, the embattled Chinese tech company. The existing temporary license was set to expire Monday. The announcement is good news for Huawei and for American tech companies who rely on it as a key customer. The Commerce Department also said the extension is largely designed to help the rural US wireless providers who use Huawei's inexpensive equipment in their networks.