Category Archives: News

There has been an acute outbreak of bipartisanship on Capitol Hill. It has been brought about by an even more acute outbreak of Sinophobia. It appears that the one—and possibly only—thing that upon which Democrats and Republicans can agree is their common fear of the rise of China. But most of all, they worry about they worry about defeat in the technology race which provides the essential tools for all the above. That is why the Senate this week voted by an overwhelming majority of 68 to 32 to pump $250 billion over five years into and development in America’s high-tech industries. It needs it. They worry about losing the values debate, the economic competition and the military debate. At the core of the technology business is semi-conductors and America’s global share of production of semi-conductors has dropped from 37 percent in 1990 to 12 percent in 2021. Meanwhile, China, this year surpassed America’s spending (private and public) on R and D spending in high-tech. Xi Jinping has said that he aims to have China self-sufficient in the production of semi-conductors and other high-tech products and services by 2025. It is a short jump from self-sufficiency to global dominance. US and Chinese competition in this field should be great news for the rest of the world because the likely result is more and better technology services for the rest of us. It should also spur other countries to follow suit for fear of falling behind. Israel and South Korea already invest more of their GDP’s on research and development than anyone else—4.6 percent according to the latest available figures. Britain has recently announced that its R and D investment will rise to more than $250 million a year to turn the country into a “science super power.”