The new Republican chairman, speaking just two days after the two-year anniversary of the landmark Open Internet Order, pledged to approach regulation with a “light-touch” approach. He said the rules have stifled economic growth and investment in the broadband industry.
“Governments from East to West all want the same thing: economic growth. Now more than ever, world economies must choose whether they will grow forward into the future or shrink back from endless innovative potential,” said Mark Elliot, executive vice president of GIPC. “Each year, this report attempts to highlight best practices among the world’s intellectual property environments. In 2017, many of the same challenges remain.
“This year’s Index shows that a clear pack of leaders has emerged: the United States, United Kingdom, Japan, and the European Union. But all that invest in the systemic recognition and protection of IP stand to reap the benefits: foreign investments, healthier home-grown industries that export innovative products, and a reputation as a place where the world can do business. From the most developed countries to the least, countries that demonstrate a commitment to IP will reap a reward.”
Offshoring production from the United States to factories overseas has arguably done a lot of damage to the U.S. economy. Over the last three decades, the trade deficit ballooned and millions of American manufacturing jobs were lost. And with those jobs, according to analysts, America also lost some of its innovative edge.
On a deal-by-deal basis, some foreign direct investment from China is a net positive for the U.S. economy. But at least one-third comes from Chinese state-owned enterprises, and it is likely that considerably more is guided and supported by the Chinese government as part of an “indigenous innovation” strategy that employs mercantilist policies and specifically targets sectors that are strategically important for U.S. national security or economic leadership.
A White House report has warned that Chinese industrial policies pose a real threat to the US semiconductor industry. The report, submitted before US President Barack Obama by the President’s Council of Advisors on Science & Technology (PCAST), argues that the US semiconductor industry needs to innovate and run faster in order to mitigate the threat posed by Chinese industrial policy and strengthen the country’s economy.
One of the president's most important responsibilities is fostering science, technology and innovation in the U.S. economy. The relationship between science and policy runs in two directions: Scientific knowledge can inform policy decisions, and conversely, policies affect the course of science, technology and innovation.
To address such stagnation, one policy that has gained traction from some economists and President-elect Trump is infrastructure stimulus. When this was first proposed in 2013, the focus was on jobs; since then, employment levels have recovered, but the underlying problems of investment and productivity growth remain.
When it comes to the idea of getting tough on China, Donald Trump is looking more and more serious. On Wednesday, Trump announced the creation of the White House National Trade Council and said it would be headed by Peter Navarro, an outspoken China critic and author of "Death by China."
Some of Donald Trump's biggest campaign promises included the creation of manufacturing jobs for American workers, making better trade deals and increasing military spending. Policies in these areas will affect a tech industry that reaches into every corner of the U.S. economy.