‘Made in China 2025’ puts US at risk of ‘losing next industrial revolution’, panel told
A hearing by the US-China Economic and Security Review Commission features warnings and advice for Washington as competition with China heats up
In response, Washington should strive to boost tech ties with allies and ease visa rules for Chinese STEM talent, analysts urged on Thursday during an online hearing – dubbed “Made in China 2025 – Who is winning?” – held by the US-China Economic and Security Review Commission, which monitors and reports on the national security risks of bilateral trade and economic ties.
“Beijing has obliterated the myth that used to prevail in Washington a few years ago that China can’t innovate – that it can only borrow and steal technology,” said Liza Tobin, managing director at Garnaut Global, a geopolitical-risk advisory firm, during the hearing.
And in her written testimony to the commission, she warned: “We are unprepared to sustain a prolonged conflict with our primary strategic rival. The US defence industrial base now depends on a potential adversary for critical inputs, from rare earth minerals to advanced electronics and even the energetic materials used in explosives for weapons.”
“We risk losing the next industrial revolution, which is unfolding as AI converges with physical industry to transform how things are made,” Tobin added.