US-China tech war & rivalry

The race for the tech of the future
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The US and China are ramping up competition to see who will the future of global technology

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The world is likely to avoid a major technology split despite rising global tensions, but better outcomes require multilateral efforts. By staying above the Sino-US fray, the rest of the world can help forge a new consensus based on shared technological progress.
As China pushes for the extraterritorial application of its capital market laws, it is important to secure mutual recognition of accounting standards and enforcement between countries
Tighter rules on data protection will also impose greater discipline on an industry that is crucial to innovation and productivity gains.
Expect trade wars to intensify and a more demanding business environment as Beijing seeks greater economic independence while maximising the world’s dependence on China.
Confirmation that China’s man in Washington is leaving after 8 years need not mean his expertise and experience will go to waste.
If the new law is similar to the European Union’s ‘blocking statute’ it may force companies to choose between the US or the Chinese market or motivate them to lobby the US to lift sanctions on China.
So much for the ideological struggle now that the US is straying from the path of free enterprise in its industrial policy, and the Group of Seven is taking a page out of Beijing’s Belt and Road Initiative.
SCMP ColumnistAlex Lo
Frustrated by Washington’s bans on exports of key components and software, the Chinese telecoms giant has built its own operating system; now, let the competition begin.
The true reasons for China’s rise are obscured as analyses focused on ‘security’ threats often understate the complexities and mutual benefits of economic interaction.
There is a coming boom in tech financing and accelerated growth in semiconductor hardware and programming software, writes Neil Newman – who is off to learn Python.
Biden’s government clearly intends to play a big role in expanding US industry, and learning from China can be a better way to view the great power contest.
Asia’s internal differences leave it susceptible to outside intervention, and that stops it from realising its full potential. That the divides remain so pronounced shows political development lags behind economic development. The region must learn to stand on its own feet.
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