Don’t assume things that happened in China would never happen in the United States. Big funding attracts many players scheming to leverage it.
What’s at stake?
Big funding, no matter in what country, attracts lobbyists galore, while politicians and corporate executives jockey for pieces of the action. China’s experience in this feeding frenzy ended in the collapse of Tsinghua Unigroup and the tarnished reputation of its “Big Fund.” There are lessons here as the United States considers how to oversee, divvy up and execute the CHIPS Act.