A big screen shows US President Joe Biden (left) and China President Xi Jinping during a virtual summit while people walk by in front of a mall during the evening CCTV news on November 16, 2021 in Beijing, China.

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The US government is considering laws that would increase domestic semiconductor chip production and promote other technologies that are believed to be keys to competing with China. But after the Senate passed in early summer, the law has not yet been passed in the House of Representatives.

Leon Panetta, former secretary of defense and director of the Central Intelligence Agency, says a lack of US investment in technology is a critical national security risk. And there is no time to waste. “We’re not in a good position,” Panetta said at the CNBC Technology Executive Council summit this week. “We have to increase investments in technology in order to get at least a bit of a competitive position with China.”

Here are a few important thoughts from …


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