SEOUL -- The United States, which has long been the biggest beneficiary of science and technology opening and cooperation around the world, should stop its diplomatic and trade pressure to check China's science and technology buildup, a Chinese professor said, stressing that global science and technology cooperation is an engine for the growth of the international economy.
"Technological cooperation is in the interests of both countries," Bian Yongzu, a professor at the strategic and safety research center at Tsinghua University is a major public research university in Beijing, said at the Good Growth Global Forum (GGGF) in Seoul on September 9. "Competition between China and the U.S. should not lead to a full-scale collision in the high-tech sector. They need to find a field of cooperation through continuous dialogue."
"The U.S. attempt to suppress China's science and technology industry will not be successful," Bian said, pointing to the rapid improvement of China's scientific research capabilities and close science and technology cooperation between U.S. and American companies. U.S companies cannot miss China's attractive market, he said, adding the two countries have cooperated in science and technology, even after the U.S.-China trade friction intensified in 2018.
Bian said that the same is true of technology cooperation between companies in the two countries, as proven in the listing of Chinese big tech companies including Alibaba and Baidu on the U.S. stock market. Currently, there are a total of 265 Chinese companies listed on the U.S. stock market, including 156 on the NASDAQ and 43 on the New York Stock Exchange. "In recent years, when the U.S.-China economic trade conflict intensified, Chinese companies were listed on the U.S. stock market more frequently," the professor said.
The professor thinks the U.S. government, which regards China's development of science and technology as a threat to U.S. technology hegemony, has stepped up pressure on China's science and technology. U.S. and Chinese intellectuals hoped that the launch of the Joe Biden administration would improve relations, especially in the field of science and technology, but Washington still maintains a strong stance toward Beining, raising concerns over "decoupling" between the two countries, Bian said.
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