Washington insiders launch Quad fund to take on China
Washington | A group of Washington insiders will launch a fund to invest mainly in companies from the Quadrilateral Security Dialogue (Quad) countries in a bid to counter China’s dominance in critical minerals, pharmaceuticals, military technologies and supply chains.
The fund, with the backing of the White House, will raise more than $US1 billion ($1.6 billion) in its initial stage and is being advised by some of America’s top investors and diplomats, including private fund manager Kyle Bass and former DocuSign chief executive Keith Krach, a former under-secretary of state for economic growth.
The private investment fund is another move by the US to build self-reliance in vital industries and sectors, but will also supercharge co-operation with other Quad members, Australia, India and Japan in response to economic and military aggression from China.
Technology is the new frontier of international relations. The interaction is bi-directional: technology is defining diplomatic matters while diplomacy is also influencing the development and deployment of technology. Take semiconductors as an example. This is a technology that forms the foundation of digital economy, national security, and productivity in almost all industries. Global supply chain in the semiconductor industry is shaping U.S. foreign policy. Conversely, America’s diplomatic effort has been redefining the supply chain. Tech diplomacy is different from science diplomacy, which became a key pillar for the U.S. and other countries since World War II. Scientists participated in treaty negotiations, engaged in bilateral summits and served as attachés at embassies. Primary topics included nuclear proliferation, super-collider construction, human space exploration and environmental science.
By: Miles Yu
For over a century, tumultuous events thousands of miles away in Russia have impacted China profoundly. Mao Zedong (毛澤東) famously said that the cannon sound of the October Revolution brought Marxism-Leninism to China. Now Xi Jinping (習近平) fears that last month’s Wagner revolt may provide a model for the Chinese Communist Party’s undoing.