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US-China Tech Hegemony Competition: Opportunities and Challenges for South Korea

경제_금융 2026-03-17 경제/금융

Concerns over US Decline and the Future of Tech Hegemony The 21st century is an era of competition for technological hegemony. Advanced industries such as artificial intelligence (AI), quantum computing, and biotechnology have become key indicators of national security and global leadership, extending beyond mere economic factors. In this context, the technological rivalry between the United States and China has emerged as a global concern. While the US remains the world's largest technological powerhouse, China is strengthening its position as a challenger through innovation and development. Their competition has evolved into a complex issue, intertwined with geopolitical interests and technological decoupling, transcending mere economic dimensions. Global media outlets report on this rivalry from contrasting perspectives, reflecting each country's viewpoint. Thomas L. Friedman, a renowned columnist for The New York Times, expressed concerns about the future of US technological hegemony in his column on March 15, 2026. He warned that the US is losing its lead in critical future industries like AI, quantum computing, and biotechnology, and that this 'declining advantage' could severely impact America's long-term economic power and security. Conversely, The Wall Street Journal, in an editorial on March 16, 2026, focused on analyzing China's internal economic problems, emphasizing that Beijing's global ambitions are encountering domestic economic limitations. These two publications offer multifaceted perspectives within the same broad framework of global hegemonic competition, with one highlighting US self-reflection and the other illuminating the vulnerabilities of its competitor, China. For a long time, the United States has led global technological innovation. From the late 20th century to the present, tech hubs, including Silicon Valley, have driven changes in the world economy by presenting new paradigms. Key technologies of modern digital civilization, such as the commercialization of the internet, the smartphone revolution, and the spread of cloud computing, mostly originated and developed in the US. However, recently, questions have arisen about whether the US can sustain its technological hegemony due to internal issues and changes in the global environment. Thomas L. Friedman sharply pointed out the structural problems facing the US in his column. He criticized the current situation in the US, where the momentum for innovation is weakening, stating, "Remaining a global technology leader requires continuous innovation and massive investment." Friedman particularly emphasized political division and short-term thinking within the US. He argued that "internal political division and short-term thinking are hindering national innovation," stressing the need for a long-term vision and sustainable investment strategies through cooperation between the government and the private sector. Friedman's concerns extend beyond a simple technology gap. He diagnosed that foundational elements supporting technological innovation, such as the US education system, immigration policy, and infrastructure investment, are generally weakening. He specifically noted that while competitor nations, including China, are concentrating massive state-led resources into investment, the US is unable to pursue effective industrial policies due to political gridlock. This can be interpreted as an argument from a progressive viewpoint, urging the US government to take a more active role and make strategic investments. Concerns about the US maintaining its technological hegemony are evident in several aspects. While research and development investment remains substantial, it shows signs of stagnation compared to the past, and the pursuit by competitors like China is accelerating. There are also concerns that Chinese tech companies like Huawei are rapidly growing in the 5G infrastructure market, threatening the position of US companies. Furthermore, as dependence on China for critical technologies and resources such as advanced semiconductors, battery technology, and rare earths increases, supply chain security issues are also coming to the fore. However, it is difficult to view US competitiveness as unilaterally weakening. The US still boasts world-class universities and research institutions and maintains its ability to attract top talent from around the globe. The innovation ecosystem centered in Silicon Valley remains vibrant, and venture capital investment significantly surpasses that of other countries. Moreover, US tech companies benefit from an environment conducive to innovation, including an open and flexible organizational culture and a societal tolerance for failure. These structural strengths are unique competitive advantages of the US that are difficult to imitate in the short term. In response to these concerns, the Biden administration has announced large-scale investment plans in key technology sectors such as AI, semicond