Made in China 2025 Industrial Policy Threatens US Tech Leadership, Says Barr
China is conducting an “economic blitzkrieg” to surpass the U.S. as the “world’s preeminent superpower,” Attorney General William Barr told a group at the Gerald Ford Presidential Museum Thursday in Grand Rapids, Michigan. A “centerpiece” of the effort is its…
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Made in China 2025 industrial policy for “domination of high-tech industries like robotics, advanced information technology, aviation, and electric vehicles,” said Barr. “Backed by hundreds of billions of dollars in subsidies, this initiative poses a real threat to U.S. technological leadership.” It defies World Trade Organization rules prohibiting quotas for domestic output, he said. It sets targets for domestic market share as high as 70% “in core components and basic materials for industries such as robotics and telecommunications,” he said. It’s clear that China “seeks not merely to join the ranks of other advanced industrial economies, but to replace them altogether,” said Barr. The Chinese Foreign Affairs Ministry didn’t comment.