Nearly 20 years after joining the World Trade Organization, China remains woefully short of meeting a broad range of commitments and responsibilities, to the detriment of both its trading partners and the international economic system.
The AIA will cost the European economy €31 billion over the next five years and reduce AI investments by almost 20 percent. A European SME that deploys a high-risk AI system will incur compliance costs of up to €400,000 which would cause profits to decline by 40 percent.
Data-localization policies are spreading rapidly around the world. This measurably reduces trade, slows productivity, and increases prices for affected industries. Like-minded nations must work together to stem the tide and build an open, rules-based, and innovative digital economy.
For many progressives, anticorporatism is not just the means for achieving other policy goals, it is the main goal in and of itself: an economy rid of large corporations. If their movement prevails, the result will be slower growth, diminished competitiveness, and less opportunity.
Few would oppose the president’s stated goals of lowering prices, raising wages, and increasing convenience for Americans. But his executive order is not the way to achieve them.
If the U.S. government is going to develop more effective policies to spur competitiveness, growth, and opportunity it will need to support better data collection, particularly on firms, industries, and technologies.
No, local governments generally are not well-suited to providing broadband service. Economic theory suggests city-run broadband would not serve the country well, and previous real-world attempts bear that out with a mixed track record marked by several failures.
The United States needs an integrated national strategy to address the twin challenges of bolstering its manufacturing sector and averting climate change. Timely federal RD&D and deployment policies targeted to specific manufacturing industries could create comparative advantage, expanding domestic investment and employment.
With the rise of China, the U.S. economic and technology environment has fundamentally and inexorably changed. The most important step Congress and the Biden administration can take to meet the challenge is to create a dedicated national advanced industry and technology agency.
It is time for antitrust policy to reject static models of market analysis and enforcement that rely too much on simplistic indicators such as firm size, industry structure, and prices. Regulators should instead adopt a dynamic approach that recognizes how market power can drive innovation—and how disruptive innovation keeps market power in check.
The United States needs to shift from an approach to power trade that is based on advancing U.S. foreign policy interests to an approach that focuses on advancing U.S. competitive advantage against China, especially in critical advanced technology sectors.
Alarmists say the economy is experiencing a crisis of market concentration, with dominant players stifling competition in industry after industry. That is the pretext for a push to radically restructure antitrust policy—but newly released Census data largely contradict the claim.
Despite legislative requirements, many federal government websites are not accessible for people with disabilities. This creates obstacles for millions of Americans, especially as the COVID-19 pandemic has moved many government services online.
After discussing the opportunities and challenges that AR/VR technologies present for equity and inclusion, the series summarizes key considerations for policymakers and industry leaders and presents recommendations to establish policies and best practices.
Cloud computing drives innovation and productivity across the economy, just as the electric grid did a century ago—yet it is more capable and dynamic, and it still in its early stages. Cloud is important not just at the firm level, but also for economic growth and global competitiveness.
The European Commission has set out to ensure digital markets are “fair and contestable.” But in a paradigm shift for antitrust enforcement, its proposal would impose special regulations on a narrowly defined set of “gatekeepers.” Contrary to its intent, this will deter innovation—and hold back small and medium-sized firms—to the detriment of the economy.
In her sensationally titled report, “Killer Profits: How Big Pharma Takeovers Destroy Innovation and Harm Patients,” the deputy chair of the Congressional Progressive Caucus issued an ideologically inspired jeremiad grounded in assertions that are easily refuted with data.
The United States should launch a “moon shot” in clean energy that mobilizes its unmatched innovative capabilities to combat climate change and capture global markets. The fiscal year 2022 budget is a critical opportunity for Congress to advance U.S. energy innovation.
Momentum for an infrastructure package presents a tremendous opportunity to close the digital divide. Policymakers should avoid a political stalemate by eschewing utility-style broadband overbuilding and instead focus on pragmatic expansion of cost-effective, competitive networks.
Assertions that symmetrical broadband is a national imperative are not well grounded in application demand or actual use of networks. Requiring symmetry in an infrastructure support program would drive up costs, reduce flexibility, and likely result in subsidies for redundant infrastructure in already served areas.
China’s long-standing and rampant “innovation mercantilist” policies harm global innovation by taking market share and revenues from more-innovative foreign competitors, thereby diminishing the resources they can invest in research and development toward further innovation.
Any national infrastructure package should include 21st century digital infrastructure—not only investments in core digital infrastructure, such as broadband and government IT systems, but also hybrid-digital upgrades to existing physical infrastructure to improve its performance.
From vaccines and therapeutics to delivery robots, intellectual property has played an indispensable role in facilitating development of a range of inventive products that have helped address health care, work, and social challenges brought on by the pandemic.
The Biden administration needs to renew America’s role as a power trader, but with a new focus of maintaining its relative lead, economically and technologically, over China. It will require changes in the strategy and organization of U.S. trade policy.
As other nations rapidly scale up their investments to develop and use quantum computing, U.S. policymakers should ensure the United States remains a leader. Investing in near-term applications would bolster the development of longer-term use cases, thereby helping to cement U.S. economic competitiveness and protect national security.
Chinese high-speed rail firm CRRC is less innovative than European and Japanese firms, but mercantilist policies help it dominate in China and expand globally. This starves superior firms of revenue, reduces their R&D, and slows the pace of global innovation.
Blood-based multi-cancer early detection (MCED) technologies hold the promise to revolutionize America’s cancer-screening paradigm, dramatically expanding the range of detectable cancers and identifying them at earlier stages when cancers are more treatable. Policymakers should provide a supportive regulatory and coverage environment.
As technology and industry strategy experts, we commend Congress and the Biden administration for focusing on ensuring U.S. advanced technology competitiveness. Toward that end, we offer a number of recommendations for further action.