The United States has long been a global leader in science and technology, but this position is now under threat from China. Over the past two decades, China has intensified its efforts to dominate key technology-driven industries and has even surpassed the United States in some areas.
Recent actions by the U.S. Congress have only added to this challenge. Despite passing the CHIPS and Science Act of 2022, Congress failed to allocate the necessary funds for its implementation. Additionally, budgets for key federal science and technology agencies were cut for fiscal year 2024. Meanwhile, China announced a 10% increase in its already significant investment in research and development (R&D).
The competition between the United States and China extends beyond scientific advancement and could impact any future military conflicts. As U.S. leadership in technology declines, economic and military risks will rise. The decisions being made now regarding investment in science and technology will have far-reaching consequences for the future.
This report was made possible with support from CSIS but did not receive any direct sponsorship for its creation. The information presented highlights the urgent need for the United States to reevaluate its priorities when it comes to science and technology if it wants to maintain its global edge in these fields.
In conclusion, it is crucial that Congress recognize the importance of investing in science and technology if it wants to maintain America’s position as a world leader. Failure to do so could lead to economic and military challenges that could impact our national security interests.
It is important that we take action now to reassess our priorities when it comes to science and technology investment before we lose our competitive edge globally.
As such, we urge Congress to prioritize funding for science and technology initiatives as part of their ongoing efforts towards maintaining America’s global leadership position.
It is not too late yet but we must act fast before it’s too late.
