High-tech startups could still be next on President Donald Trump’s list as the trade battle between the United States and China escalates. Beijing-backed investment is pouring into sensitive sectors of Silicon Valley, home to the brightest and the best in the US technology field.
“More than 20 Silicon Valley venture capital firms have close ties to a Chinese government funded or state-owned [entities],” Reuters news agency reported.
Danhua Capital, which is funded by state-owned Zhongguancun Development Group, has invested in some of the “most sensitive technology sectors,” including data management and security.
So far, Washington has failed to focus on Chinese funding in American tech startups, but that is likely to change if the US Congress pushes through legislation to allow the government to block foreign investment.
On Thursday, Trump appeared to back off initial threats of limiting Chinese involvement but confirmed that deals and funding would be heavily scrutinized if they crossed into national security territory or sensitive sectors.
Intellectual property rights and high-tech industries have become a key sticking point between the US and China after a tit-for-tat trade dispute, which has spilled over into the broader world economy.
“The fundamental reality is that talk is cheap,” Peter Navarro, the White House trade advisor, told the media in a conference call last week, adding that China “may have underestimated the strong resolve of President Trump.”
“If they thought that they could buy us off cheap with a few extra products sold and allow them to continue to steal our intellectual property and crown jewels, that was a miscalculation,” he added.
Despite three rounds of talks and shuttle diplomacy between Washington and Beijing, both sides have failed to solve their differences as tensions increase.
Treasury Secretary Steven Mnuchin led a US delegation to China earlier this month and tabled a list of demands to tackle allegations of intellectual property theft and other key policies Washington considers unfair.
“The Chinese have said, ‘We want to see the specifics.’ We gave them all the specifics in terms of trade issues. So they can’t say they don’t know what we’re asking for,” Terry Branstad, the US Ambassador to China, said at a conference in Tokyo earlier this week.
“We’re still very far apart. There are many areas where China has promised to do but haven’t [delivered]. We want to see a timetable. We want to see these things happen sooner than later,” he added. “We’d like to see China being just as open as the United States.”
Who is talking about international Intellectual Property Rights here?
Ohhh, you know of the fact when your agencies have seriously undermined others international Intellectual Property Right.
The Bible says do unto others as you will have them do unto you.
Allen Padua Guilon .. the world is in thsese undesirable situation only because of united states interfernce in every sector of world..economically or politically.. u r the one who creates terroism all over the world simply because of ur benifits.on one hand u demoralize agriculture to developing countries on the other hand u promote ur own agriculture by providing heavy subsisdiea to ur agro economy.. all the u.n. agents are ur puppet who forcefully includes ur policy in the name of grant aids.. i can write a while long essays but i dont have a time so dont act ur country is innocent.. china now doing the same economically…
You defend your country because you are Chinese. You can not see what your country is doing, its cheating tactics and its illegal activities in South China sea. Name a country in Asia who love what China is doing??!!
US should be firmed to its demand or else totally cut its business tie with China. China is still needs the technology of US. This is what US be watchful. Chinese investors in Silicon Valley backed by gov’t do everything to get what it wants ,the transfer of its technology as start up to China’s dream a center of high technology in 2025. They succeeded in in acquiring technology all manufacturing especially automobiles, now its target in high tech sector the Silicon Valley,the center of technology of the world.US should watchful China’s tactics of sneaking all the its technology . China wants to conquer the world in all aspects. Sad to say its greediness seen in South China Sea,claiming all the areas without respecting the claims of small sorrounding countries. So sad to see China’s unjustifiable and illegal activities just to be with its dream.
Stop the hallucinations. China and its thieving way ward ways are over, finished, kaput. Japan, Australia, South Korea, Vietnam, Malaysia, European Union …, all of them including even Russia …,they are all against China when the chips come down.
Stupid idiot,..sigh…this one sensitive, that one security concerns,what have you open?your legs or thighs?????????????sad, stupid and pathetic exceptionalism,ya…idiots