The US House passed a bill on Friday that would add nearly $300 billion into scientific research and development so that America can compete better with China in the domain. The bill earmarked $52 billion to manufacture semiconductor chips and $45 billion to ease supply chain problems in the manufacturing sector. It also allocated $8 billion to the Green Climate Fund to address climate change and support developing countries' bid to cope with it.

The bill, called "America Competes Act of 2022", was passed by a majority of support from Democrats by 22-210 votes, despite strong Republican opposition. The 2900-page bill is meant to salvage stalled industrial production, fill supply-chain gaps and address inflation, fuelled largely by semiconductor shortages. Republicans heavily disagreed on climate change contributions, as “slush fund.” They also opposed the bill’s strong anti-China stance and funding for marine mammal research and efforts to protect coral reefs.

When enacted, the bill would be the most audacious attempt by the Biden administration to compete with China in the front of technology and eventually boost industrial growth. Significantly, the voting happened soon after the opening ceremony for Beijing Winter Olympics was held; the Congress criticised the International Olympic Committee for awarding the Games to China, despite its alleged poor human rights record.

The speaker of the House Nancy Pelosi said the legislation is meant to ensure the superior position of the US in the field of innovation, manufacturing and overall economy—so that it can beat any other nation. Semiconductor chip industry is no doubt the biggest beneficiary of the bill.

The best thing about the bill is that it places a great emphasis on fundamental scientific research, especially climate change which has never been on the agenda of Republicans.

Because there are so many contentious issues in the bill, experts feel it won’t be enacted easily as there will be strong opposition.

READ MORE: https://www.reuters.com/world/us/us-house-set-pass-sweeping-vote-china-competition-bill-2022-02-04/

https://www.usnews.com/news/top-news/articles/2022-02-04/u-s-house-set-to-pass-sweeping-vote-on-china-competition-bill

https://www.nytimes.com/2022/02/04/us/politics/house-china-competitive-bill.html