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“Vast” U.S. business expansion in China may threaten…

WASHINGTON, July 1 – A “vast expansion” in U.S. multinational business activity in China since 2000 may threaten American industrial competitiveness and long-term tech leadership, a new report by a congressional U.S.-China advisory commission found on Wednesday.

The U.S.-China Economic and Security Review Commission warned that rapid moves by U.S. firms away from manufacturing in China and into higher-value activities such as research and development could be “unwittingly enabling China to achieve its industrial policy objectives.”

(Reporting by Andrea Shalal and David Lawder Editing by Chizu Nomiyama)

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