The House on Friday passed a massive spending bill aimed to boost the US’s ability to compete with China.
The America COMPETES Act is an over $250 billion spending bill. Of that amount, $52 billion would go towards domestic semiconductor production, $45 billion would be to improve supply chains, and $160 billion would go towards scientific research. The legislation also includes several amendments to increase US support and cooperation with Taiwan.
The bill passed by 222-210 in a vote that fell along party lines. Only one Republican voted in favor of the bill, and only one Democrat voted against it. Republicans are in favor of a sweeping piece of legislation to counter China but don’t think this version is tough enough.
“The generational threat of the Chinese Communist Party is a test not only for our national security but for American values. Sadly, this bill fails that test,” said Rep. Michael McCaul (R-TX).
The Senate passed its own version of the bill last June, which received more support from Republicans. The legislation will now go to a House-Senate conference where changes will be made to gain bipartisan support.
President Biden released a statement in support of the bill when the Senate passed its version and is expected to sign the legislation once it reaches his desk. Biden said the massive bill would help the US in its competition with China to “win the 21st century.”
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Another stupid legislative action. It ties itself with the story of Cheveron trying to cut a deal with the Venezuelan government to try to boost oil production by 40,000 bpd (barrels per day). This was after they wrote off their Venezuelan losses at 2.4 billion dollars for year 2021. Its spending quarters hoping to make dimes.
For as long as somebody profits at taxpayers’ expense. A standard formula.
COVID-1984 smashing supply chains did more to hold back US competitiveness than can ever be made up for by this pork platter.
Standard practice. No matter what, one party will object on whatever grounds, whille the other will try to solve by now overwhelming problems by masive spending — with a predictable corporate wellfare component. House-Senate conference will distribute the funds to insure that many outstretched hands get something.
Why we will for purely political reasons try to import Taiwanese chip factory outlet, we have knowingly neglected Intel that is the only US company that retained the whole-process approach? Meaning that chip manyfacturing has not been farmed out to a cheaper country for profit. Why? Because Taiwanese factory having made money of US and global customers , developed more advanced processes. While our manufacturing has bern starved of customers and the money to invest in research and better manufacturing.
Now we have to create crisis with China over Taiwan. We linked our future to Taiwanese chip founry.
Hundreds of Taiwanese engineers are fleeing to mainland China, and are not looking forward to relication to US. They want to stay closer home. not having to learn English, and having to pay high cost of living in US, It may appear as a good solution —. Get a quick transition to advanced domestic chip manufacturing, and silmuntainously develop a major new narrative in China. Having been unsuccessful in converting China into our off shore manufacturing dependency, now we sre creating a new story, Bad China, genocidal, technology stealing, agressive wolf-warrior diplomacy practicing authoritarian monolith.
Watching Olympics is a painful experience. Our team of reporters is endlessly spewing the monotonous propaganda. They are not taking a breath! This is embarrasing.
The saluent point is — what is the point? Feeble mindedness and spewing bile will be effective domestically — as both parties are comprting in being “tougher”.
But our entire past success, as well as European enduring high level of development is linked inexorably to the thalasocratic world order. Ocean trading created world-wide centers of trade that catered to this pattern of trade, This has changed in Asia, where the pattern of trade has become China-centric as their iwn national interests dictate. If US, UK and Australia believe in perling away all Asian countries away from China, they are deluding themselves. This application of political and economic force is HIGHLY premature.
A declining powers must first insure domestic revival of science, achieve some level of self-sufficiency before plumbing the depths of nastiness against anyone. It is clearly rasism — pure and simple . How dare the inferior, “non-inventive” race compete successfully against us? This is the theme being infused into everything we say or do.
It is not working with the global audience. Most countries will say what we want to hear — and then mind tgeir own interest.
China led trade block includes both South Kirea and Japan. All members now enjoy slashed tariffs ffor their exports to China. All these are exporting countries that are hurt badly by reduced American and European exports. They found new markets. These pricesses destroyed our supply chains, and we cannot restore them as we cannot compete with what China can offer. China is exporting the manufacturing of semi-products to those countries, creating the new labou force that will move from factory worker to educated engineers in two generations. They are geographically close and not ocean shipping dependent.
Instead of going ballistic, we should have thought through the global impacts — and found our new place in it, blending our advantages with other countries needs.
Instead, we are nust mouthing off, To global
yawn
Yes, my son had a nice consulting business going on chip manufacturing until it went overseas. Now twenty billion will be spent in bringing semiconductor manufacturing back to. . .Ohio.
China, in most areas, has achieved satisfaction in its own country and is now going international. China is focused on creating a better world via BRI, including investments in many parts of the world.
The US is still back in part one, where many domestic aspects are backward and placing in last place in many categories, so the US has to spend more on science and commerce, where China excels.
And of course these expenditures don’t even begin to improve areas of US life that are unsatisfactory like medical care, crime, drug use, racism, health, homicide, military waste, wars etc.