US Aims To Curtail Investment in Advanced Military Technology in China (nytimes.com) 21
Growing concerns about China's military and economic ambitions have lawmakers and the White House weighing yet another effort to restrict Beijing's access to advanced technologies that could be used in war. From a report: This time, the U.S. government appears poised to extend its restrictions to a new area: American dollars that are used to finance the development of such technologies within Chinese borders. For months, the Biden administration has been preparing curbs on the investments that U.S. firms can make in China, particularly in areas like advanced computing.
Those measures are now largely complete and could be issued within two months. The Treasury Department has been reaching out to other governments, including the European Union, to try to ensure that they do not rush in to provide similar financing to China after the United States cuts it off, according to people familiar with the discussions. The voyage of a spy balloon across the United States has set off newfound fears about the national security threats posed by the Chinese government. This week, lawmakers on both sides warned the White House that if the administration did not move ahead with investment restrictions, Congress would propose its own.
Those measures are now largely complete and could be issued within two months. The Treasury Department has been reaching out to other governments, including the European Union, to try to ensure that they do not rush in to provide similar financing to China after the United States cuts it off, according to people familiar with the discussions. The voyage of a spy balloon across the United States has set off newfound fears about the national security threats posed by the Chinese government. This week, lawmakers on both sides warned the White House that if the administration did not move ahead with investment restrictions, Congress would propose its own.
China Bullying Other Countries (Score:1)
Uh... Yeah. (Score:2)
In other conspiracy theory news, internal reports suggest that NASA may also be backed by the US Federal Government!
what could possibly go wrong (Score:2, Interesting)
Re:what could possibly go wrong (Score:5, Interesting)
Every time we try to influence other countries' policy they come back on us for it. Learn from history.
Allowing China to enter the global market, such as when it entered the WTO in 2001, was the West's attempt to influence China's policies. The thought was that as China (and Russia) became more affluent they would naturally become more like the West. This has failed.
Now the West is pulling back because they finally realize it was a fool's errand. This approach is to simply leave authoritarian states more isolated, because history has shown that isolated countries do not advance as quickly as those with strong relationships abroad. Isolating a country has been shown to limit the damage they can do with their authoritarian tendencies.
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Well, the West gets an "E" for Effort. But, been there, done that, and now we have empirical evidence to present to any apologists.
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Every time we try to influence other countries' policy they come back on us for it. Learn from history.
You mean they won't allow Chinese firms to invest in American defense companies or related technology? :-]
Here is my really concerned face.
Better later than never I guess (Score:2)
There has been a push to move development back to US soil. I guess this is a way to back into that. It closes some security vectors and puts more technological development back in the US. Not a complete solution I'm sure but at least going in the right direction.
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There has been a push to move development back to US soil.
Tell that to my company...
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I get it. There's still a school of thought that you push everything offshore and $$PROFIT$$. I think companies are starting to find out that there are consequences. Not all companies, of course. But the ones who don't figure it out might become smaller companies.
Google in China (Score:2)
Meanwhile, how many AI research offices does Google have in China? Are the executives in Alphabet/Google familiar with the term "treason?"
concerns about economic ambitions? (Score:3)
And unfortunately, the proper response for the US to take reads like an Onion article:
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Economic ambitions are not a crime.
That's an interesting statement that could perhaps form the mantra for laissez faire economics. Some extreme dubious examples of this mantra are drug cartels, anti-competitive monopolies, backstabbing coworkers, fraud, selling unsafe products, etc. Just like freedom, economic or any type of ambition is theoretically a good thing but left totally unchecked often leads to bad things, sometimes really bad things. That is, given a society of where all inhabitants were altruistic, completely unfettered freedo
Kind of obvious (Score:2)
Twenty odd years too late (Score:2)