Christopher Johnson:
Yes.
Well, on the scale of total investment that the Chinese are making in these core technological areas, the actual U.S. dollar flow into those investments is relatively small. The Chinese government, of course, is pouring a ton of money into all three of these areas, largely through its industrial policies, which are of great concern to the U.S.
So, the actual amount of money, by comparison, that the U.S. is putting in is small. But it's not really the money necessarily that I think the administration and other folks who are looking at this closely, especially on the Hill, have been focused on. It's really the knowledge, the special capabilities, the sort of things that a U.S. venture capital or other firm can bring to the table in terms of expertise that might actually help the Chinese make advances in the technology itself.
So, in other words, to facilitate making the investment that the U.S. investor is making profitable, they are willing to share their ecosystem, if you will, of technological and other expertise. And that's really what the concern is. So, while the actual dollar amount is small, that's been the concern.
And in terms of the ability to impact Chinese developments, it certainly will not ease their ability to do so. One of the things that's been most challenging for them is, they want to obviously have access to foreign direct investment coming into these technologies, and especially those expertise categories that I mentioned a moment ago, coming their direction.
They will continue, of course, to pursue these technologies, because they're critical, in their minds, for not just their military advancement, but also their economic development in the 21st century, because, obviously, these are the three core technologies that are looking like they will define the knowledge-based economy of this century.
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