China Challenge

In this June 1, 2021 interview with Fox News Maria Bartiromo, former Under Secretary of State, Keith Krach, describes the Endless Frontier Act, which aims to invest $100 billion in key tech industries. According to Krach, the Endless Frontiers Act makes the American worker the winner, and General Secretary Xi the loser.

Maria Bartiromo: Let’s talk about the Endless Frontier Act. This seeks to remake and expand the National Science Foundation by creating a technology administration. Keith, what do you know about this bill? Is it enough to keep the US in the lead when it comes to technology, which, of course, we know that the Chinese Communist Party wants to overtake the US as the number one superpower, including taking the lead on innovation and tech.

Keith Krach: Maria, this is a very important bill. We started this bill back with our global economic security strategy about a year and a half ago. We approached Senator Schumer and Senator Young. So this is one hundred billion dollars that goes to research for the ten critical national security sectors. We need this because I can tell you, as a guy who’s run multiple public Silicon Valley companies, you’re on that 90 day shot clock. These are really important technologies. This is not a bill about spending. This is about national security. Economic security is national security. And I think that’s the key thing for everybody to remember. And it’s also important to remember that the Endless Frontier Act does not pick winners and losers, the American worker is the winner and General Secretary Xi is the loser.