Washington/Beijing – The US Congress passed a new bill to challenge the increasing Chinese influence in the technology sector. The bill named US Competition and Innovation Act makes a provision of USD 246 billion to maintain the leadership position of the United States in the technology sector. However, a strong reaction has been received from China regarding the bill, and the Chinese Parliament has criticised that the United States is acting insane.
It is observed that China has taken a big lead in the technology sector in the last decade. Chinese companies and research are forging ahead in many sectors, from 5G to Artificial Intelligence. There have been many instances where China has forced smaller and weaker countries to accept the Chinese technology, using financial might and influence. At the same time, indications are also being received that China is making moves to hold the technological advances in the other countries at ransom by using its dominance in the ores and other raw materials.
Against this background, the United States has initiated efforts to break the increasing Chinese monopoly in the technology sector. Former US President Donald Trump had started an aggressive campaign to jolt this Chinese dominance. The passage of the new bill demonstrates that the Biden administration also seems to continue with the campaign because of the increasing resentment against China at the international level and also the United States.
The US Senate passed the bill US Competition and Innovation Act with a majority of 68 votes for and 32 against. After this, the bill will be sent, once again, to the House of Representatives, and it is said that the bill will be passed there. As per the new bill, huge funding will be made available to various projects for research in advanced technologies. At the same time, the US industries will be provided financial assistance to secure the supply chain in the semiconductor sector.
An intense reaction has been received from China against this bill to challenge the Chinese influence. The Chinese Parliament accused that the United States is acting insane. The Chinese Parliament also criticised that the bill passed in the Senate demonstrates Cold War mentality and prejudiced ideological outlook. China also blamed that the United States is making moves to arrest the Chinese progress in the technology sector.