In the ongoing tech war, Biden’s ban on U.S. investment in China’s high-tech sectors aims to hinder China’s innovation.
The tech war intensifies as Biden bans U.S. investment in China’s high-tech sectors, aiming to curb innovation rivalry amid security concerns.
According to an article published by CGTN, on August 10, U.S. President Joe Biden initiated a significant move in the tech war – unveiling a ban on U.S. investment in China’s high-tech sectors.
This action follows a series of anti-China measures previously initiated by different administrations. While presented as security measures, the ban’s aim seems to be to halt China’s progress in the tech war. This marks a departure from past free trade and globalization rhetoric.
In the midst of the escalating tech war, these targeted sectors include quantum computing, advanced chips, and artificial intelligence, with enforcement scheduled for next year. While supposedly aimed at constraining China’s technology prowess, the actual ramifications of the ban remain uncertain.
Previous bans, such as those affecting Huawei and advanced semiconductor chip exports, prompted Chinese companies to explore alternative solutions. Critics contend that the ban may expedite China’s tech war self-sufficiency.
This ban represents an aspect of the ongoing U.S.-China tech war, which gained traction under Trump and continues during Biden’s term.
According to an article published by Reuters, despite American efforts, advanced entities like the EU are unlikely to mimic the move.
China’s tech progress thrives not merely on alleged tech war theft, but also on a trained workforce and the state’s agility in rapid advancement.
Obstructing exports might even catalyze China’s autonomous tech growth. The success of the tech war hinges on how the U.S. leverages the resulting space within a politically uncertain environment, molded by decades of neoliberalism.
Amid the escalating tech war, the ban on U.S. investment in China’s high-tech sectors appears to be a strategic maneuver to reshape the technological landscape.