Thank Beijing for Overdue Changes to U.S. Economic Policy

With the Chinese government oppressing Uighurs in Xinjiang, jailing democracy advocates in Hong Kong, and harassing Taiwan, gratitude isn’t something you’d think the U.S. owes its most threatening competitor right now. But credit should go where it’s due. Americans should give China their heartfelt appreciation—for fixing U.S. economic policy.

The U.S. Innovation and Competition Act, co-sponsored by Senate Majority Leader Chuck Schumer and Republican Senator Todd Young of Indiana, passed the Senate on June 8 by a 68-32 vote. It’s known as the “China bill” for good reason: It was inspired and made possible by Beijing. The legislation mimics aspects of the Chinese state-led economic model, with $250 billion to fund scientific research and support semiconductor manufacturing. Only China’s rise and hostile foreign policy, and the fear and concern they are fomenting in Washington, could have bonded otherwise irreconcilable Democrats and Republicans into bipartisan action.