It was recently shown at a House hearing that cutting-edge technology in the hands of Big Tech companies can profoundly impact society.
Research conducted by an Australian think group revealed that Chinese companies are much ahead of their American counterparts in 37 of the 44 critical technologies of the 21st century.
19FortyFive notes that if China emerged victorious, a new global order would be established to enhance the Chinese state’s political, economic, ideological, and military domination. Beijing has selected a set of “national champions” that it supports; private individuals technically run these enterprises but are extensively monitored and even directed by the Chinese government.
Analysts are concerned that the United States is taking steps that could cause it to slip behind China in the high-tech race. In the long run, the U.S. will be more successful in its high-tech struggle with China if it opens the market to competition from U.S. technology enterprises, especially the Big Tech giants like Apple, Meta, Google, Amazon, and Microsoft. It will be essential to sustain a technological ecosystem that encourages businesses of all sizes to take risks and innovate. The United States IT industry requires capability capacity to compete successfully with China.
The United States is getting more serious about competing with China in high-tech industries, as evidenced by the TikTok hearing. While the Biden administration and Congress are making particular efforts to make the American technology industry more competitive with China, they are also pursuing policies and legislation that would seriously undermine the competitiveness of U.S. corporations, notably Big Tech firms.
Several bills limiting the activities of America’s top high-tech businesses have been submitted to Congress, and some lawmakers have even advocated for their complete dissolution. The executive order enforced by the Biden administration makes it more difficult for large cloud providers to implement appropriate safety protocols.
The introduction of such onerous and costly regulations would make it difficult for Big Tech corporations to compete with their Chinese rivals and would also threaten their capacity to continue making progress in crucial areas.
Internet giants have the resources, experience, and entrepreneurial spirit to compete with China, protect themselves from its destructive activities, and deter the country’s aggressive behavior. Without developing alliances with the Big Tech businesses and increasing their efforts to produce technological advancements in crucial industries, the United States has little hope of winning the most significant worldwide competition of the 21st century.