DM Monitoring
BEIJING: The U.S. Senate passed an expansive bill that is apparently seeking to use an obsolete Cold-War mentality to boost America’s future tech and manufacturing.
The 2,400-plus-page bill shows Washington’s growing anxiety over and ideological prejudice towards China’s development, as well as its paranoia to maintain America’s global technological superiority.
However, those U.S. lawmakers who sponsored the bill as well as other like-minded Washington politicians are steering their country onto a wrong and dangerous path, which will only harm the United States and the world at large.
Hyping up the so-called “China-threat” theory may be a convenient political stunt, and help some self-serving politicians score some cheap political points for the moment.
Yet demonizing China won’t fix the chronic, deep-rooted political, social and economic problems that have been plaguing the United States for decades. These problems are the real obstacles that are undermining America’s potential for long-term healthy development.
What’s worse: This big bloated bill could drag the United States into years of wasteful investment on industrial subsidies, hurt American businesses, and even stoke racial conflicts that would rip the country further apart.
The world also stands to lose. The bill, if it becomes law and is implemented, could rock global supply chains, block international tech cooperation, encourage unhealthy market competition, and restrain innovation. This all would be terrible news for a trembling global economy struggling to get back on its feet in the post-pandemic era.
