U.S. Senate Democrats launched a renewed effort to stave off competition from China on Wednesday, planning legislation to boost the country's ability to face up to the Asian powerhouse on issues from technology to security and threats to Taiwan.
to boost competition with Beijing in semiconductors and other technology, Senate Democratic leader Chuck Schumer and Democratic committee leaders said they would write legislation they hoped to introduce in the next several months to limit the flow of technology to China, deter China from initiating a conflict with Taiwan and tighten rules to block U.S. capital from going to Chinese companies.
He said he hoped the bill would be bipartisan, and said Republicans in the Senate had been supportive of some of the ideas proposed for the package. The measure will need Republican support to become law, as Republicans control the House of Representatives. "It would be challenging, and partly because of spending and debt - concerns about too much spending and the impact it's had on inflation, the way the deficits exploded and ballooned," Thune said.
"We know that China uses its economic power like a bully," Democratic Senator Chris Coons told the news conference.
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