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Biden or no Biden, China will stay on course
 China learned an important lesson and will not abandon struggle for tech independence 09.Nov.20 8:41 AM By Abigail Richards Photo toinnov.com |
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The Chinese technology industry, one of president Donald Trump's main targets in the Washington trade dispute with Beijing in recent years, hopes that the election of Joe Biden will lead to a more constructive relationship. But there will be no less rivalry, as it turns out, after a tour of Reuters news agency by executives of these groups and analysts. The Chinese technology companies have learned through four years Trump "the importance of self-reliance", so it sounds. The conflicts demonstrated how vulnerable the Chinese industry was and strengthening this sector is now a major government priority no matter who will occupy the White House. This will not change China's intentions to increase its domestic knowledge in the area of innovation and development, for example. "There will be no end to competition, China and the US will compete for innovation in the next decade," said Fang Xingdong. He is director of the Consortium of Internet and Society at the Communication University of Zhejiang. In addition, giants such as Huawei, Tencent and TikTok-owner ByteDance modified their supply chains after being blacklisted by the Trump government or their suppliers. A high-ranking member of an American blacklisted company reported that the industry was awash. According to him, "a certain degree of independence will be formed". Business bank Jefferies analysts believe that China is likely to be less on Biden's priority list. He will first focus on problems in his own country, such as the COVID-19 and the economic consequences of the pandemic. According to the analysts, a general ban on the use of the Chinese semiconductor industry, which Trump was aiming for, will also be less likely repelled under the new president. | |
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