Wow they hacked a dead man's account just to promote a movie?
American Economics Thread
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Wow they hacked a dead man's account just to promote a movie?
Economics of a warmonger/ war criminal state...
Econ
Econ
US Senate passes bill providing US$52 billion in subsidies to semiconductor industry
The legislation includes US$39 billion for semiconductor manufacturing in the US, and another US$11 billion for chip research and development. Another US$1.5 billion, the bill’s authors said, goes to “shore up the global telecommunications supply chain and limit the scope of involvement globally of telecommunication companies with close ties to the Communist Party of China, like Huawei”.This funding comes amid reports in recent days that the US has been investigating possible spying activities by Huawei Technologies, the Chinese telecoms giant, of US military installations on behalf of the Chinese government – allegations Huawei and Beijing have denied.
The legislation also opens the door to billions of dollars for hi-tech scientific research and education – both areas where Biden has said the US is lagging dangerously behind China. Congress would have to separately approve any new funding for the research and education programmes.
It's actually a $280 billion bill.
There is also about $200 billion for scientific research, including $81 billion for the National Science Foundation, $10 billion for regional technology hubs and $68 billion for the Department of Energy.
China is sh*** in its pants right now. It was already badly, badly behind in basic research spending, this will put the difference in light years. Pretty much game over, honestly.
US taking a page from China’s playbook - government guided investments in specific areas. $52 billion is just a portion of the $280 billion that Senate passed today.
But China already responded with $1.4 trillion allocation towards strategic sectors.
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Woot! China lost!
Yawn, you should try harder, cheap propagandist. The reason why this bill was introduced is because the US already shat its pants after . More precisely, the US and their pawns started wetting their undies and lashing out after the was announced and that $1.4 trillion sum is just a cream on top of the other investments, like the $300 billion committed back in 2018. Seems like the US was unable to muster a comparable sum, sucks being a broke indebted Murican I guess.
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That story is referring to money for stuff like building electrical charging stations and 5G base stations. But the U.S. bill has $200 billion purely for research. Heck, there is ten times more money in this one bill than all of China spends on basic research per year. And that's not even counting the U.S. baseline basic research spending or that of its NATO/Asian allies. China is going to lagging behind worse than the Qing dynasty in 1850.
I mean, this is epic-level stuff, you'll be feeling the effects of this for decades if not centuries as that's how long the investments will be paying off for.
"$1.4 trillion in investments during the next five years in artificial intelligence, data centers, mobile communications and other projects". I like how you deduced that the research investments will be less than $200 billion from that statement, when this bill is 7x of the American one. How did you do that? Oh, and add $300 billion from 2018 on top. Looks like classic demagogue stuff after one encounters some facts, lol.
You are also incorrect on the research part - only $11 billion will go towards research from the $52 billion bill; DOE funding includes "infrastructure, equipment, and instrumentation"; another $11 billion will go to DOC, etc.
Funny that you compare it with basic research, when the industries which are targeted by that bill are almost all in applied research, lol, but I guess you got desperate there. China is going to be lagging behind, yet it is the US who cries the most and tries to stop China's development. Why do that if mere funding is enough to make China lagging behind? Strange duality of Western propagandists like you - on one hand China is so far behind, it is impossible to catch up, on the other the US is so scared that it tries to put roadblocks everywhere.
Yes, Americans will be feeling that when they have to pay the incurred deficits, lol.
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This bill is from early 2020. So if it included huge amounts in basic research, it would show up. However,
China's basic research spending in 2021 was only 169.6 billion yuan or about $26 billion. Source: In fact you can see from that chart China's R&D spending has actually slowed down from what it was growing at in 2018-2020.
In this bill:
$80 billion+ over baseline for just the National Science Foundation (NSF), DOE Department of science/innovation, NIST, and DOC tech initiatives alone. Source: