American officials and executives feel that Chinese firms have closed the technological gap with Western rivals by illicit means
last November. Construction began on a $3bn extension to a semiconductor foundry owned by Micron Technologies, a maker of advanced memory chips, based in Idaho. “A few years ago, opening that sort of extension would have people saying, well, that is going to be moving to China soon, isn’t it?”, observes James Mulvenon, an expert on Chinese cyber-policy and espionage.
Others say the zero-sum game involves broken promises to American workers. They recall American political leaders assuring workers that high-value manufacturing would stay in America, even as globalisation carried cheap jobs to China. China has become tougher on acts of piracy, from fake consumer goods to breaches of patents. But foreign executives still tell horror stories about pressure to share secrets with local partners and cyber-attacks on company servers back home. Depressingly, 13% of member firms in the AmCham survey said that their greatestThere are several ways in which economic competition can become zero-sum, and all can be seen in China today. Theft is just one.
America has other advantages. Joy Dantong Ma of MacroPolo, the in-house think-tank of the Paulson Institute, examined the origins of leading speakers at the most prestigiousgathering. Most came from American universities and tech firms, she found. Crucially, though, more than half those American stars were foreign-born. Team Trump’s visa clampdown imperils that.
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