2 April 2020

US, China need healthy competition in tech development

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The United States and China should find a way to build trust and enhance communication to foster healthy competition in technology development, industry insiders have said. reports citing foreign media that "China is now a major technology power ... so the perception is that the United States is now in a long term struggle with China over some of the key technologies like artificial intelligence, quantum computing, and 5G," said Paul Triolo, practice head of geotechnology at the political risk consultancy Eurasia Group.

he trend has been shown in the revamping of the U.S. export control system and stricter reviews of foreign investment in the United States in the past two years or so, Triolo added.

Industry insiders noted that the United States should stop making Chinese tech companies scapegoats for tensions in bilateral ties.

They agreed that it is surprising and unprecedented to see the U.S. government targeting individual Chinese companies, such as telecom giant Huawei, that have already been reliant on U.S. suppliers, as the move would ultimately hurt a lot of U.S. firms severely.

China has developed mature logistic supply chains and a high-quality workforce for technology products over the last 30 years, which makes it very difficult for companies to move out of the country, they noted.

If companies leave China, "we could start paying 5,000 (dollars) for this phone," said Triolo, pointing to his own iPhone.

Even worse, the world could enter an "innovation winter" as a lot of energy and financial resources would be diverted from technological research and development. "The cumulative effect of that could be really negative," said Triolo.

2019.08.03 / 13:45
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