US to spend $110 bn in technology for basic research to counter China

Washington [US], May 15 (ANI): The United States Senate has cleared an effort by legislators to set up USD 110 billion in technology funding for basic research as a measure to counter China amid strained ties and fierce competition between the two countries.

The Senate Committee on Commerce, Science, and Transportation voted to approve the Endless Frontier Act on Thursday, which would see billions of dollars poured into basic research – the advancement of scientific theories that underpin applied technologies – over five years, in areas that include artificial intelligence, semiconductors, quantum computing, advanced communications, biotechnology and advanced energy, reported South China Morning Post (SCMP).

While the bill still needs to be approved by the rest of the Senate and the House of Representatives, a consensus is emerging in the US that the country must do more planning to cope with China’s strategic technological challenge.

China’s 14th five-year plan from 2021 to 2025, calls for spending in the area to reach 8 per cent of total research and development expenditures.

Read more..