This competition is a contest of ideas on governance for investment, innovation, and the internet. A country’s ability to innovate and produce advanced technologies provides economic strength, military power, and an intangible benefit of perceived leadership.īoth China and the United States have advantages and disadvantages in this contest, and while it is usual to focus on quantitative aspects-such as the number of engineers or patents and spending on research and development (R&D)-these are not the key determinants of technological competition between states. Technological competition today is as much between companies as states. 1 This is not new-the U.S.-Soviet space race was a contest of the ability of different systems to produce new technologies, but those were unique government programs. Innovation has become a central element of its international influence. In the digital age, national security and national power have different requirements shaped by technological change and cyberspace. When Vladimir Putin says that the country that leads in artificial intelligence (AI) “will be the ruler of the world,” it is hyperbole, but hyperbole that confirms that political leaders recognize that the ability to innovate is a potent source of national power. The link between technology, innovation, national security, and international power is now widely recognized. This disparity creates unavoidable tensions. The ability to create new technologies, particularly digital technologies (given their importance for politics, security, and economic growth) have become key factors in the U.S.-China relationship, which is marked by close commercial cooperation and deep governmental distrust. This conflict is over control of the modern levers of power-global rules and institutions, standards, trade, and technology. Unlike great power competition in previous centuries, the focal point is not military strength or territorial expansion. The United States and China are in a growing competition, perhaps verging on conflict, but it is not a nineteenth century competition between empires for control of territory and resources. In the near term, competition is unavoidable, and the more important challenge comes from China’s efforts to “return to the center of the world stage” and the means China uses to attain this at a time when the United States is reassessing its global role. These predictions are simplistic and rest on assumptions of China’s economic and political trajectory that may not be valid. China’s rise is often accompanied by corresponding predictions of inevitable conflict and U.S. All Rights Reserved.Napoleon’s famous quotation about a sleeping giant moving the world when it awoke seems prescient, but a closer examination presents a more complex story. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes.
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