China seeks to acquire US’ crown jewels of technology: White House

China seeks to acquire US’ crown jewels of technology: White House

China seeks to acquire the crown jewels of American technology through theft, forced transfer, information-harvesting and acquisition, the White House said today, a day after President Donald Trump threatened to slap tariffs on USD 200 billion worth of Chinese goods.Trump, pursuing his ‘America First’ policy, has been insisting that China has been unfairly benefitting from a massive trade imbalance with the US, now estimated to be USD 376 billion.“China seeks to acquire the crown jewels of American technology, including ag-tech, through six vectors,” Peter Navarro, White House Director of Trade and Industrial Policy told reporters during a conference call.These six vectors are physical theft and cyber theft; forced technology transfer, typically as a condition of access to the Chinese market; evasion of export controls; export restraints on raw materials; information-harvesting campaigns designed to acquire and exploit the openness of our economy. An acquisition of crown jewels by state-backed funds that basically, scour places like Silicon Valley, Austin, Boston and beyond, for the best of what the US have in industries like artificial intelligence, block chain technology, robotics, high-tech manufacturing and high-tech shipping, Navarro said. ”These, in fact, are the Made in China 2025 industries that China, with one-fourth of the world’s population, wants to control 70 per cent of the production of by 2025,” he said.Collectively, these six behaviours constitute what December 2017 National Security Strategy refers to as economic aggression, he said.
“Much of this behaviour is outside international norms, and it is critical, both to the interests of the United States, as well as for the integrity and proper functioning of the global economy, that China cease these kinds of behaviour, and integrate its own non-market economy into the global trading system in a way that leads to fair, balanced and reciprocal trade.