The Endless Frontier Act (EFA), which targets the Chinese Communist Party, is moving forward quickly in the United States. The bill is a bold initiative that would spend $110 billion over five years on basic and high-tech research, commercialization of research results, and education and training programs in key technologies such as artificial intelligence (AI), creating investments in technologies critical to U.S. national security and economic competitiveness, and solidifying U.S. leadership in science and technology innovation. Another $10 billion will be provided to establish multiple technology centers and create a supply chain crisis response plan to address issues such as the semiconductor chip gap in automotive production.
The bill is widely seen as a reflection of current U.S. political dynamics and a key indicator of the U.S. efforts to counter the strong rise of China’s technology sector. The Infinite Frontier Act, sponsored by U.S. Senator Todd Young (D-NY) and Senate Majority Leader Chuck Schumer (D-NY), is in fact only one of a series of bills to counteract the Chinese Communist Party. In late April of this year, the U.S. Congress had a major global “counterweight to the Chinese Communist Party” proposal in the form of the Strategic Competition Act of 2021, which was overwhelmingly passed in the Senate. The bill would mobilize economic and diplomatic resources to “unite against China,” which Reuters described as a rare consensus between the long-divided U.S. parties on the issue of dealing with China. President Joe Biden even said, “The United States is going to fight the Chinese Communist Party on every dimension!”
The introduction of this bill highlights two key points: first, the bipartisan unity of the U.S. in dealing with China by jointly passing this bill; and second, the increasingly clear determination of the U.S. to prevent China’s technological advancement.
Experts pointed out that this is not the first time the United States and the Communist Party of science and technology war, early in the Cold War, the Soviet Union in the world’s first successful launch of artificial Earth satellite Sputnik, deeply shocked the United States, known as the “Sputnik Moment (Sputnik crisis)”. The U.S. was already a leader in the field of space, but two subsequent test launches of artificial satellites failed. As a result, the United States had to rise to the occasion and set up a number of national science and technology policy advisory and coordination bodies. The U.S. science and technology industry has since entered a “golden decade,” and now the U.S. is facing a sense of Cold War resemblance. The significance of the passage of the No Frontier Act cannot be overstated.
Bobby Franklin, president and CEO of the National Venture Capital Association (NVCA), said that if effectively implemented, the legislation would meaningfully increase federal investment in basic research and technology commercialization activities, improve America’s long-term economic competitiveness, create new industries and quality 21st century jobs, and enhance economic growth in communities across the country. growth.
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