China denounces US innovation bill

Beijing accuses Washington of considering China an "imaginary enemy" after the US Senate passed a sweeping industrial policy bill aimed at countering the surging economic threat from China. American political parties overcame partisan divisions to support pumping more than $170 billion into research and development. The bill is seen as crucial for US efforts to avoid being out-manoeuvered by Beijing as the adversaries compete in the race for technological innovation.

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