U.S. draft Strategic Competition Act looking to allocate over $1 billion to counter China
American lawmakers are intensifying their efforts to counter China. A Senate committee has overwhelmingly passed the draft Strategic Competition Act, which takes aims at China on multiple fronts. The act calls for over $1 billion to increase Washington's global influence. This includes over $650 million to fund foreign militaries in the Indo-Pacific region, some $450 million for the Indo-Pacific Maritime Security Initiative, and another $300 million to counter Chinese influence around the world. Funding also covers investments to expand American exports to developing markets, a program to counter China's Belt and Road Initiative and help American companies leave the Chinese market.