The policy with regard to tech companies requires adjustment to meet concerns that also exist among Americans. Yesterday, the new director of the National Economic Council (NEC), the leading forum for economic policy issues in the US, told Gary Shapiro, director of the Consumer Electronics Show (CES).
Brian Deese, who will be formally appointed on January 20, was cautious. Shapiro, whose Consumer Technology Association (CTA) represents a large part of the US electronics industry, is clearly concerned about the pressure being put on tech companies from all sides.
2020 was the year in which the patience with Big Tech ran out. The top executives of these companies had to answer to US hearings and investigations have been started into abuse of power in both Europe and the US. “These companies control much of the US stock trading. How do we ensure that they do not lose their position as a result of stricter regulations, ”Shapiro wanted to know. Deese believes that ‘the game should be played by the rules’.
Deese’s council will leave an important mark on economic policy. “We’re bringing Joe Biden’s cabinet members together to outline the big picture,” said Deese.
The policy for the coming years is called Build back better. “We have stood still in many ways,” says Deese.
For example, the US will re-sign the Paris Climate Agreement and restore relations with other countries. Investments will have to be made in R&D, social and racial equality and the neglected infrastructure. In addition, Biden wants to focus strongly on the ‘largest investment in sustainable energy and innovation ever’. “We have lost critical time,” said Deese.
Deese repeatedly emphasized that we are still in the middle of an economic crisis. Biden wants to allocate trillions of dollars for additional support to get the US economy through the corona crisis. The emphasis will be on this in the first months, as will the approach to corona.
Even under Biden, the mutual economic and technological battle between the US and China will continue for a while. Import duties on each other’s goods will continue to rise and Chinese access to US technology will continue to be hampered, the International Monetary Fund (IMF) expects.
The effect of Biden’s anti-China strategy could be even greater and more damaging, as he can be more coordinated and structured than his predecessors, the IMF suspects.
Deese did hint that a better balance must be sought with regard to China “because the policy of the previous government has not yielded us anything”. The US does want to involve other countries in this.
*The article has been translated based on the content of Nieuws – Emerce by www.emerce.nl. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!