How U.S. plans to counter China’s influence in technology

China’s growing influence in science and technology is a thorn in the flesh for the U.S. The legislative proposal seeking to counter China’s tech dominance will allocate about $110 billion toward technology research. Apart from the proposed bill, Republican Senator John Cornyn said lawmakers are also likely to vote on approving at least $37 billion to fund programmes to boost U.S. semiconductor production that was authorised under a law enacted in January. Republican Senator Rand Paul calls the proposal “wasteful” and that it won’t “counter China’s rising influence”. In an opinion piece to The Hill, he points out that “Political considerations would replace sound investment decisions, and companies would be accountable to Congress, instead of investors.” He also noted that a lack of profit motive within the government will make the proposal inherently less efficient than the marketplace.