In recent years, the United States has faced a significant challenge to its global leadership in science and technology. Over the past two decades, China has emerged as a serious rival, making efforts to dominate technology-intensive sectors and even surpassing the US in resources dedicated to these areas.
The competition between the US and China is not fully appreciated, as evidenced by the recent failure of Congress to allocate funds for the CHIPS and Science Act of 2022. Additionally, key federal science and technology agencies saw their budgets cut for fiscal year 2024, which is particularly concerning given that China announced a 10% increase in its already substantial investment in research and development during the same week.
The US-China technology rivalry has strategic implications that could impact any potential military conflict between the two nations. As the US’s technological advantage wanes, it faces an increased risk of economic and military challenges. This report was made possible thanks to general support for CSIS, with no direct sponsorships contributing to its findings.
