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Will the United States or China lead the world economy? | Opinion




The United States has been an economic superpower since World War II, not to mention the only military superpower since the collapse of the Soviet Union nearly 30 years ago.


Sure, America is blessed with abundant natural resources, and so is the Soviet Union.

The greatness of America comes from those people. That’s because, as Reagan said, America is a shining city on a hill. A country founded on the basis of freedom with endless opportunities to attract the world’s best talent. It is this freedom and opportunity to drive innovation, drive competition, unleash investment and generate wealth.

When you see the horrifying sights happening in Kabul, it should help remind us how blessed it is to live here. With more than 51 million foreign-born residents living in the United States, the United States is the most popular destination for immigrants around the world.

Now, a new superpower competition is reappearing between the United States and China, a clash between communism and capitalism. But the U.S. House of Representatives is targeting U.S. tech companies with anti-competitive legislation that not only undermines the fastest-growing sector of the economy, but also helps China dominate the global tech market. Efforts are being made to raise a plan.

This so-called antitrust law will undermine and endanger the US economy and military power. If the House of Representatives wants to earn political points by undertaking a large tech company, that’s right. However, this antitrust effort is going in the wrong direction and is dangerous.

If the Chinese take control of the global tech market, Facebook, Amazon, Google and other companies are not the only big losers. The entire economy, tens of thousands of small businesses that depend on the digital economy, and millions of Americans whose livelihoods depend on the success of the technology / digital sector. This flawed law will give the Chinese Communist Party the ability to sue American tech companies and exempt most foreign tech companies, such as Alibaba and Huawei, from surveillance.This is crazy and imposes a high risk

It damages our economy.

The United States needs Congress to get this right. Our economy and national security are too endangered. Attacking big companies may be politically appealing, but parliamentarians haven’t helped Chinese Communists approach their goal of replacing the United States as a world leader in technology. You need to make sure that.

High-tech companies in the United States have shown that they are essential, especially during a pandemic. They support and promote small businesses and start-ups in all sectors and provide the technology tools needed to make Main Street a success in the heart of the Americas. Innovations and investments have enabled consumers to choose more products at lower prices.Signs of a story of functioning

A free market that benefits consumers, not a monopoly that limits competition.

Our current antitrust standards help promote consumer well-being and competition and bring about the lasting success of the American economy. But new populists are indiscriminately attacking these criteria without stopping thinking about the potential damage to the economic and strategic interests of the Americas.

Distance education, telemedicine, remote work, and family and friend connections are all practical nationwide, not to mention that US tech companies are driving job creation and capital investment more than any other sector. It is a merit.

The US economy is important to our future. Encourage your US House of Representatives / elected officials to oppose this anti-competitive law in Congress before it resets the global economy.

Chip Pickering is a former member of the House of Representatives and CEO of INCOMPAS.




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