Biden on US innovation and Chinese competition

28 January 2022
2022-01-28 14:40

President Joe Biden has sought to jump-start a stalled element of his economic and national security agenda: a huge federal investment in manufacturing, research and development in technologies.

US President Joe Biden said "We need not have confrontation, but we have a stiff economic and technological competition, and we're going to insist everyone, including China, play by the same rules."

The president recently touted an announcement by Intel Corp. that it will construct a 20 billion USD factory outside Columbus, Ohio, creating 7,000 construction jobs and an additional 3,000 permanent jobs.

Intel is the latest semiconductor company to announce expansion plans in the U.S. amid a global shortage of the chips used in phones, cars and video games. Concerns also have been raised by U.S. officials over national-security issues because many American companies depend on chips produced overseas.

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