波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒

Global EditionASIA 中文雙語Fran?ais
Opinion
Home / Opinion / China and the World Roundtable

US tech decoupling self-destructive

By Dan Steinbock | China Daily | Updated: 2023-05-22 07:50
Share
Share - WeChat
MA XUEJING/CHINA DAILY

US President Joe Biden's expanded technology war is bad news to American business, financial giants, high-tech industries and consumers. Over time, it will penalize Asia's economic recovery and global economic prospects.
Under pressure to clarify its economic and security policies toward China, the Biden administration recently dispatched two top emissaries to "explain "that the United States does not seek to "decouple" from China (which it effectively seems to be doing).

Both US Treasury Secretary Janet Yellen and National Security Advisor Jake Sullivan left unanswered the question of how Washington plans to curb tech transfers to and investments in China. That fostered perception that the new US measures could harm investors and disrupt the world's trading system. The US is risking a misguided tech war.

Over the past few years, US Congress has strengthened the Committee on Foreign Investment in the United States, while using its authority to scrutinize some of the US enterprises' overseas investments. In 2018, Congress also overhauled the systems screening investments into the US and imposing controls on the exports of goods and technology. Last October, the Biden administration announced sweeping and highly controversial restrictions on the exports of sensitive technologies to China with the aim of undermining the country's ability to buy advanced chips and chip-making equipment.

Also, the administration has built "guardrails" into the CHIPS and Science Act by limiting the investments recipients of subsidies can make in China. Besides, financial sanctions have been added to the Treasury's "specially designated nationals" list.

Hence, to argue, as Yellen and Sullivan did, that the administration will only impose "narrow" investment restrictions, is self-illusionary. After all, the measures have both broad and untargeted negative implications, especially at a time when the US economy is teetering at the edge of recession, and facing a spreading banking crisis and rising debt default risk.

In addition to the proposed ban on foreign investment by US companies in Chinese tech companies, the administration now wants to restrict the number and kinds of technologies that can be sold to China. With their initial focus on high-end semiconductors, the guidelines may extend to artificial intelligence, quantum computing, electric vehicles and rare earth metals; in brief, the perceived emerging industries of the future.

Ironically, both the White House and a bipartisan group in Congress have had a hard time reaching a consensus on restriction on outward investment. Seeking competitive leverage as always, US businesses and financial giants still want to work with China, while ordinary Americans, any day, prefer cheap, affordable prices. Yet the Biden administration, Capitol Hill and the Pentagon have different goals.

As US think tanks have projected, Biden's executive order targeting China will have far-reaching impacts on investments in publicly-listed Chinese enterprises by individuals and companies, investments in startups by venture capital and private equity funds, investments by US companies, typically in research and development or production facilities in China, and the activities of US companies' subsidiaries and foreign enterprises' US subsidiaries.

Despite the administration's efforts to multilateralize these misguided policies, the US will likely be alone in having to walk the talk. Although the European Union has signaled rhetorical interest in an outbound regime, it is unlikely to turn its willingness into action in the near term. And Japan and the Republic of Korea do have outbound investment review regimes, but both are narrowly targeted.

If that's the case, why is the Biden administration in such a hurry? Two weeks after Biden announced his re-election campaign, his approval ratings sank to a record low of 36 percent. As the administration failed to reset its ties with China, opted to expand the trade war into a tech war, issued contested economic policies and engaged in a controversial proxy war in Ukraine, Biden's ratings began to plunge.

And with fiscal policy feeding into runaway inflation, the intensifying banking crisis and another debt-limit debacle, this trend is not likely to change anytime soon.

Whatever meager security benefit the Biden administration hopes to gain from withholding US investment and international recognition from Chinese high-tech companies may be offset by the huge collateral damage these new restrictions are likely to cause.

Over time, the restrictions may virtually ensure that Americans will not learn from Chinese tech companies, many of which are already at or close to the top in their fields in science and technology.

In early 2021, former World Trade Organization economist Anne Krueger said that previous US president Donald Trump's modus operandi was to bully Beijing "on trade, foreign investment, cyberspace, e-commerce, intellectual property, the South China Sea, Taiwan, and other issues". She proposed a thorough reset in the US-China trade ties.

If Trump's bombastic, go-it-alone approach was fundamentally flawed, Biden's tech restrictions will penalize US businesses, investors and consumers, and derail global recovery, while causing massive losses in missed opportunities. It is the wrong thing to do at the wrong time.

The author is the founder of Difference Group and has served at the India, China and America Institute (USA), Shanghai Institutes for International Studies (China) and the EU Centre (Singapore).

The views don't necessarily reflect those of China Daily.

If you have a specific expertise, or would like to share your thought about our stories, then send us your writings at opinion@chinadaily.com.cn, and comment@chinadaily.com.cn.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒
日本va欧美va精品发布| 一色屋精品亚洲香蕉网站| 欧美国产亚洲另类动漫| 综合久久国产九一剧情麻豆| 欧美熟妇精品一区二区| a级精品国产片在线观看| 成人黄色国产精品网站大全在线免费观看 | 国产精品中文字幕日韩精品 | 9.1在线观看免费| 亚洲综合成人网| 精品午夜久久福利影院| 无人码人妻一区二区三区免费| 波多野结衣一本| 在线精品视频一区二区三四| 久久久99精品久久| 午夜精品福利一区二区蜜股av| 高清beeg欧美| 91麻豆制片厂| 欧美变态口味重另类| 亚洲精品福利视频网站| 天堂av在线一区| 国产一区二区h| 91女神在线视频| 五月婷婷婷婷婷| 一级二级黄色片| 中文字幕一区二区不卡| 国产精品一二三四区| 国产尤物在线播放| 国产精品福利一区二区三区| 不卡av电影在线播放| 日本高清无吗v一区| 亚洲午夜视频在线| 成人手机在线免费视频| 久久综合狠狠综合久久激情 | 色综合一个色综合| 欧美亚洲禁片免费| 亚洲一区二区在线免费看| 日批在线观看视频| 久久这里只有精品6| 成人午夜精品一区二区三区| 在线观看三级视频欧美| 丝袜美腿亚洲一区二区图片| 女女互磨互喷水高潮les呻吟 | 久久综合久久综合亚洲| 国产精品99久久久久久有的能看| 国产少妇在线观看| 午夜视频久久久久久| 欧美做受xxxxxⅹ性视频| 欧美国产欧美综合| 久久久久久久久久久影视| 欧美一二三四区在线| 国产一区二区免费视频| 91精品91久久久中77777| 日韩高清中文字幕一区| 影音先锋男人看片资源| 一区二区三区**美女毛片| 玖玖爱在线观看| 中文字幕一区二区三区不卡在线| 日本人妻一区二区三区| 久久精品视频在线看| 亚洲三级在线视频| 久久久久久毛片| 国产裸体视频网站| 国产日韩欧美高清在线| 91成人在线观看喷潮蘑菇| 久久精品人人做人人综合| 91免费国产视频网站| 欧美精品一区二区三区蜜桃视频| av一二三不卡影片| 精品久久久久久最新网址| 北条麻妃国产九九精品视频| 日韩你懂的在线观看| 99久久精品免费观看| 精品国产麻豆免费人成网站| 日本一区二区三区在线免费观看| 欧美精品一区视频| 在线观看免费视频国产| 国产精品久久久久天堂| 熟妇高潮精品一区二区三区| 亚洲欧美日韩电影| 秋霞网一区二区三区| 天天综合网天天综合色| 一本高清dvd不卡在线观看| 久久99国产精品久久99| 欧美精品高清视频| 91在线观看视频| 国产亚洲综合在线| 极品白嫩丰满美女无套| 亚洲一卡二卡三卡四卡五卡| 黑人操日本美女| 久久99国产精品免费网站| 7878成人国产在线观看| 91在线视频免费91| 国产精品看片你懂得| 精品亚洲aⅴ无码一区二区三区| 亚洲成av人片| 欧美在线观看视频在线| 粉嫩aⅴ一区二区三区四区| www久久久久| 中文字幕在线免费看线人| 亚洲一卡二卡三卡四卡无卡久久 | 欧美高清精品一区二区| 日本一区二区三区视频视频| 国精产品一区二区三区| 日韩精品成人一区二区三区| 欧美三级电影在线观看| 99麻豆久久久国产精品免费 | 色香色香欲天天天影视综合网| 国产自产高清不卡| 亚洲精品一区二区三区香蕉 | 粉嫩av懂色av蜜臀av分享| 亚洲精品中文字幕在线观看| 成年人午夜剧场| 国产成人综合自拍| 国产偷国产偷亚洲高清人白洁| av网站免费在线看| 老司机免费视频一区二区三区| 欧美一区二区成人6969| 久草视频福利在线| 亚洲第一成人在线| 欧美电影影音先锋| 亚洲精品第二页| 午夜精品久久久久久不卡8050| 欧美探花视频资源| 国产xxx在线观看| 亚洲国产精品一区二区www| 欧美色男人天堂| 韩国一区二区三区四区| 亚洲国产日日夜夜| 欧美美女一区二区| 久久久老熟女一区二区三区91| 亚洲成人精品在线观看| 91麻豆精品国产| 亚洲午夜久久久久久久久红桃 | 在线观看日本中文字幕| 麻豆一区二区三| 久久综合久久综合久久| 四季av中文字幕| 国产aⅴ综合色| 亚洲欧洲精品天堂一级 | 国产精品一级黄| 中文字幕av一区二区三区高| 国产精品国产精品88| 成人看片黄a免费看在线| 亚洲美女免费在线| 欧美伦理视频网站| 丝袜美腿中文字幕| 国产揄拍国内精品对白| 国产精品伦理在线| 欧洲美女女同性互添| 欧美激情在线免费观看| www深夜成人a√在线| 99re8在线精品视频免费播放| 亚洲黄色小视频| 欧美一区二区三区日韩| 在哪里可以看毛片| 国产很黄免费观看久久| 日韩伦理电影网| 在线不卡中文字幕| 亚洲最大成人综合网| 成人激情av网| 性感美女极品91精品| 26uuu亚洲| 人妻少妇精品一区二区三区| 亚洲成人福利视频| 久久精品噜噜噜成人88aⅴ| 欧美激情一区二区三区全黄| 在线视频亚洲一区| 亚洲av无码一区二区二三区| 国产999精品久久久久久绿帽| 一区二区日韩av| 亚洲精品一区二区三区影院| 538精品在线观看| 国产一级二级视频| 国产激情视频一区二区三区欧美 | 亚洲一级黄色录像| 91在线免费看| 老汉av免费一区二区三区| 中文字幕一区二区三| 日韩区在线观看| 国产十六处破外女视频| 一级国产黄色片| 成人h精品动漫一区二区三区| 午夜影院久久久| 国产精品无人区| 91精品国产一区二区三区蜜臀| 日本精品久久久久中文| 中文字幕第10页| 国产专区综合网| 亚洲综合偷拍欧美一区色| 久久综合网色—综合色88| 91福利在线观看| 97在线观看免费视频| 韩国三级在线看| 福利电影一区二区| 免费人成精品欧美精品| 亚洲三级在线看| 久久久精品tv| 7777精品伊人久久久大香线蕉经典版下载 | 久久综合色8888|