It would expand the scope of the Committee on Foreign Investment in the United States (CFIUS), which scrutinizes financial transactions for potential national security risks. The bill stresses the need to "prioritize the military investments necessary to achieve United States political objectives in the Indo-Pacific." It backs steep increases in security-related funding for the region and closer ties with Taiwan. It pushes humanitarian and democratic values, like imposing sanctions over the treatment of the minority Muslim Uighurs and supporting democracy in Hong Kong. The 280-page Senate bill addresses competition with China through efforts such as increasing international development funding and working with allied countries and international organizations. It grossly interferes with China's affairs and reeks of Cold War and zero sum mentalities." "It hypes up the China threat theory and talks about full strategic competition with China. "It distorts facts and confuses right and wrong," said Wang Wenbin, a spokesman at the Chinese foreign ministry. ![]() The legislation was greeted with anger in Beijing. He and Senator Jim Risch, the panel's top Republican, wrote the "Strategic Competition" measure together, with Risch saying it was "truly bipartisan." "With this overwhelming bipartisan vote, the Strategic Competition Act becomes the first of what we hope will be a cascade of legislative activity for our nation to finally meet the China challenge across every dimension of power, political, diplomatic, economic, innovation, military and even cultural," said Senator Bob Menendez, the Democratic chairman of the Senate panel. The Biden administration supports the measures. Congress, which is narrowly controlled by President Joe Biden's fellow Democrats. The desire for a hard line in dealings with China is one of the few truly bipartisan sentiments in the deeply divided U.S. ![]() read moreīoth bills have strong support from both political parties and are expected to become law. gba/.agb /.zip/.elf/.bin/.Separately, a group of Senate and House of Representatives lawmakers introduced the "Endless Frontier Act," calling for $100 billion over five years for basic and advanced technology research and $10 billion to create new "technology hubs" across the country.
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