cross-posted from: https://hexbear.net/post/8989196
As a consequence of the legal changes, billions of dollars in assets, technology and know-how are being transferred to American investors. Corning, an American firm, picked up a 2gw solar-module factory in Arizona for an undisclosed sum last year. Boway offloaded its newly built 3gw factory in North Carolina for $254m in May, almost 15% less than it cost to build. The assembly lines left by retreating firms are full of Chinese technology, intended to assemble Chinese-designed solar panels with Chinese-made inputs. Other firms want to keep their foothold in the American market and find ways to hang on to the tax credits. They are creating joint ventures with local partners, says Mona Dajani, who leads energy transactions at Cooley, a law firm.
In part, that is because the activities of Chinese firms abroad are being watched ever more closely by authorities at home. America has forced sales of high-profile Chinese assets, including TikTok, a video app, and ports on the Panama Canal. New rules passed by China’s cabinet to protect its investments abroad will take effect on July 1st. They include clamping down on technology exports. The measures also promise retaliation against “discriminatory measures” taken by foreign governments. Nancy Sun, a lawyer in Shanghai, says the rules “encourage the Chinese company to say ‘no’”.
This easily goes both ways. There's legitimate concerns regarding Chinese tech, the CCP, and their long-term strategy. I don't know about stealing their tech, but we should definitely be keeping an eye on Chinese tech products.