Biden's 'Extreme Competition' Is a Warning to Chinese Tech Companies

Chinese Media Warns Against Illusions About Biden
Competition with the US in 5G, AI, Big Data, and Fintech Sectors

[Asia Economy Beijing=Special Correspondent Jo Young-shin] The term "extreme competition" mentioned by U.S. President Joe Biden has been interpreted as a warning to Chinese technology companies. Chinese media pointed out that extreme competition is aimed at China's advanced technology companies, and that Chinese tech firms should not harbor illusions about improving relations with the United States.

China's state-run Global Times reported on the 9th that the extreme competition mentioned by President Biden should be interpreted as a signal to restrain Chinese technology companies.

[Image source=Yonhap News]

On the 7th (local time), President Biden criticized Chinese President Xi Jinping in an interview with U.S. CBS, saying, "Xi Jinping is very smart and tough. He has no democratic corner at all. This is not criticism but reality." He added, "There is no need to clash with China, but there will be extreme competition with China."

The word that Chinese media focused on was "extreme competition." The Global Times cited experts saying that advanced technology is the area that will determine the global standing of both countries, and that competition between the two in the advanced technology sector will intensify.

The media predicted fierce competition between China and the U.S. in fields such as 5G, artificial intelligence, big data, and fintech.

Fang Xingdong, founder of ChinaLab, a technology think tank based in Beijing, expressed concern that "under the Biden era, restraint against Chinese technology companies challenging U.S. core technologies will continue."

However, he forecasted that President Biden would not take irrational actions like former President Trump, explaining that this is because the profits U.S. companies gain from China are much greater than those of Chinese companies.

The Global Times cited an interview with Chinese Ambassador to the U.S. Cui Tiankai on CNN, pointing out that what the U.S. wants is its own interests.

In the interview, Ambassador Cui said, "Many countries including the U.S. want market share in China," adding, "Most just want to make money in China." He also used the term "tech cold war."

This content was produced with the assistance of AI translation services.