Reference no: EM132988823
One of the most significant risks the US currently faces is "Technological Advancement Transfer". An example is the recent Huawei/5G issue. A lot of reports have always put Japan ahead of the US when it comes to technological implementation. However, when it comes to technological advances, making an impact by really pushing the boundary of technology, the US has always been a global leader. From the health sector, space, military, you name it. Technology helped solidify the US as a global superpower. The US produced the world's most influential technology companies and has the most significant cluster of scientists/researchers. These significantly contributed to making the US the biggest economy in the world.
Because the US has always focused more on research and advancement, not implementation, it tolerated a lot of technological implementation transfer with risk of losing Intellectual Property (such as computer and cell phone designs, source codes, etc.) from other nations.
However, these risks are now intolerable. Countries like China are proving capable of offsetting the balance when it comes to making advancements. With the recent 5G research fiasco (the US losing the race), Google withdrawing Huawei's android support, and Huawei responding with its HarmonyOS, it is undeniable the US is now facing a substantial technological risk, which can impact US technological global standing, capability, and economy. The US no longer holds all the chips. Technology sanction is no longer efficient. As such, the US needs to come up with a different strategy.
What action should the US take, and how do you think did we end up here?