US Must Engage with China’s Competitive Hi-Tech Firms: Trade Group Leader
computer chip production machine. Semiconductor The head of the US-China Business Council , Craig Allen, has urged that US companies and other multinational firms must engage with China's rapidly growing and "wickedly competitive" tech companies to stay globally competitive. Speaking ahead of his departure from the non-profit industry association, Allen highlighted the challenges that multinational firms face as the US and China continue to tighten trade restrictions and limit technological engagement. According to Allen, Chinese firms, especially private companies, are becoming increasingly competitive as they adapt to slower domestic growth and market oversupply. His warning follows recent export restrictions announced by the Biden administration, including new measures targeting semiconductor development technologies. Allen emphasized that US export controls and China’s countermeasures were pushing Chinese companies to seek new partnerships, often with other Chinese ...