Business & Economy

A huge American project to confront the Chinese economy

The United States of America is trying to counter the threat to the growing Chinese economy by passing an industrial policy bill in the Senate.
Those behind the project hope to overcome divisions within the council in order to inject $170 billion into research and development.
AFP said the bill was crucial to US efforts to avoid an outgrowth of Beijing in the race for technological innovation.
The bill allocates $52 billion to fund a pre-approved plan to increase domestic manufacturing of the ingredients.
It also provides $120 billion over five years for the activities of the National Science Foundation, to advance priorities including research and development in key areas such as artificial intelligence and quantum science.


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