News10NBC on Nostr: US rivalry with China expands to biotech. Lawmakers see a failure to compete and want ...
US rivalry with China expands to biotech. Lawmakers see a failure to compete and want to act
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U.S. lawmakers are concerned about America's failure to compete with China in biotechnology, citing risks to national security and commercial interests. Bills have been introduced in the House and Senate to bar 'foreign adversary biotech companies of concern' from doing business with federally funded medical providers, specifically targeting four Chinese-owned companies. Critics argue that restrictions on Chinese companies would impede advances in biotechnology that could bring greater benefits. Supporters believe the legislation is crucial to protecting U.S. interests and securing data. Both the U.S. and China have identified biotech as a critical national interest. The Biden administration aims to advance biotechnology and maintain U.S. technological leadership, while the Chinese government plans to develop a 'national strategic technology force' in biotech. Concerns include Beijing's lack of transparency, unfair market practices, and the potential for Chinese companies to share data with the government. The legislation is part of the broader U.S.-China rivalry and the Biden administration's efforts to stabilize the relationship.
#Us #China #Biotech #NationalSecurity #CommercialInterests #Legislation
https://www.whec.com/national-world/us-rivalry-with-china-expands-to-biotech-lawmakers-see-a-failure-to-compete-and-want-to-act/
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U.S. lawmakers are concerned about America's failure to compete with China in biotechnology, citing risks to national security and commercial interests. Bills have been introduced in the House and Senate to bar 'foreign adversary biotech companies of concern' from doing business with federally funded medical providers, specifically targeting four Chinese-owned companies. Critics argue that restrictions on Chinese companies would impede advances in biotechnology that could bring greater benefits. Supporters believe the legislation is crucial to protecting U.S. interests and securing data. Both the U.S. and China have identified biotech as a critical national interest. The Biden administration aims to advance biotechnology and maintain U.S. technological leadership, while the Chinese government plans to develop a 'national strategic technology force' in biotech. Concerns include Beijing's lack of transparency, unfair market practices, and the potential for Chinese companies to share data with the government. The legislation is part of the broader U.S.-China rivalry and the Biden administration's efforts to stabilize the relationship.
#Us #China #Biotech #NationalSecurity #CommercialInterests #Legislation
https://www.whec.com/national-world/us-rivalry-with-china-expands-to-biotech-lawmakers-see-a-failure-to-compete-and-want-to-act/