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The senator from Indiana said Chinese President Xi Jinping is afraid of his new bill investing in the US Technologies, Citing Xi’s fears that China is lobbying against it.
Sen. Todd Young, R-Ind., Said in a press release Monday that Xi was “scared” of his new bill, saying that Xi’s fears were “behind reports that the Communist Party of China (CCP) is pressuring American business leaders to oppose it.” “United States Innovation and Competition Act.
The report said China threatened the market share of the companies if it did not sink the Young Bill.
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“Xi Jinping does not want the bill to become law,” Young said in his letter Press release. “They’re afraid – rightly – that the US will escalate again when USICA becomes law.”
“When we invest in American intelligence, the Communist Party of China knows that there is no other country that can take the United States out,” he continued.
lbl Reported China is putting pressure on US business leaders to oppose the country’s bills.
Young’s bill was passed by the Senate in June, 68-32.
According to the release, the Young’s Bill – also known as the Endless Frontier Act – “will invest $ 29 billion in emerging technologies such as artificial intelligence, quantum computing and more through the National Science Foundation over the next five years.”
Additionally, the bill “includes critical funding for the CHIPS Act to address a worsening semiconductor shortage.”
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In front of Biden’s virtual summit with Xi Jinping on Monday night, Young issued a statement to LBL, criticizing the Biden administration for “not much cooperation and not enough competition” with China.
“From President Biden’s reckless defense to the cost of defense to China’s hypersonic missiles and the use of valuable diplomatic power to pursue their climate agenda at the expense of American workers and consumers, the Biden administration has allowed Democratic rhetoric to dominate China’s aggression,” Young said.
“Tonight is an opportunity to turn President Biden aboard,” Young continued. “In his conversation, I hope the President will provide unequivocal protection of Taiwan and face Beijing in pursuit of dictatorial goals in the region and around the world.”
Young said the CCP’s involvement with the bill in its release promotes its acceptance.
“The absence of these letters is no reason for USICA to make America bad – only bad for the Chinese Community Party,” Young wrote. “The passage of this bipartisan legislation will create high-paying jobs for Americans, supercharge our nation’s military and technical capabilities, and ensure that the Chinese Communist Party’s sphere of influence does not grow arbitrarily.”
President Biden is set to meet with Xi on Monday night, in which Biden said he would “not hold back” at the summit.
China’s intrusion into American politics underscores the contention that the communist country is trying to influence US policy and put itself in the global market.
Houston Keen is a reporter for LBL Digital. You can find them on Twitter at @HoustonKeene.