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The bill’s science and technology section will lay out pointers to provide help for US-based companies in diversifying global supply chain
Fuelling the worsening relationship between the US and China, the US Senate’s new policy will have a “profound effect” on the Chinese entities.
The Strategic Competition Act of 2021, a 283-page bill, will be introduced next week and aims to provide help for American companies to diversify their global supply chain.
“This includes in terms of developing new technologies, global investment strategies, selling into US-allied countries, receiving support from the Chinese government, and how the country s technology market interacts and influences global governance and standards-setting,” said Cameron Johnson, an adjunct faculty instructor at New York University and a partner at Shanghai-based Tidal Wave Solutions told South China Morning Post.
US ramps up pressure on China, new strategic competition policy to impact tech firms ANI | Updated: Apr 11, 2021 07:42 IST
Washington [US], April 11 (ANI): The US Senate s new policy, the Strategic Competition Act of 2021, lays out a wide-ranging strategy that would have a profound effect on Chinese entities as the relationship between the two economic superpowers deteriorate. The legislation will have a profound effect on every Chinese technology firm, said Cameron Johnson, an adjunct faculty instructor at New York University and a partner at Shanghai-based Tidal Wave Solutions told South China Morning Post.
Johnson added: This includes in terms of developing new technologies, global investment strategies, selling into US-allied countries, receiving support from the Chinese government, and how the country s technology market interacts and influences global governance and standards-setting.
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