The DIUx report recommends that we look at ways to restrict Chinese investment in U.S.
technology companies, particularly those with potential military applications. This is unlikely to
work – it is easier to disguise the source of investment capital than to investigate it – and will not
stop China from acquiring our technology through its other tech transfer strategies. Such an
effort could also quickly become impossibly broad. Thousands of entrepreneurs seek capital in the U.S. each year to build businesses in AI, AR and VR, robotics, and IoT devices, and
attempting to anticipate all those technologies which might one day have military applications is
impractical, if not impossible. Furthermore, if anything, restricting China’s access to U.S.
technologies through investment could cause them to redouble their efforts to acquire our
technology through more damaging means like industrial espionage and cyber theft, and to invest
more of their money in domestic innovation.
In particular, expanding the Committee’s oversight of joint ventures and noncontrolling
investments is important. We should do more to identify and prevent deals that truly
threaten our nation’s strategic industries, but our goal should not be to cut off Chinese
investment in U.S. companies.
http://docs.house.gov/meetings/AS/AS26/20180109/106756/HHRG-115-AS26-Wstate-CarterW-20180109.pdf
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