彭博：美国遏制中国科技霸权的努力正在失败

Investment Rating - The report indicates a cautious outlook on the U.S. efforts to contain China's technological rise, suggesting that these measures may not be effective in the long term [2][4]. Core Insights - Despite U.S. tariffs and sanctions, China is making significant strides in key technology sectors, with notable advancements in electric vehicles, batteries, and solar panels [2][3]. - The "Made in China 2025" initiative has largely succeeded, with China leading in five out of thirteen critical technologies tracked by Bloomberg [2][5]. - The competition between the U.S. and China is intensifying, particularly in advanced technology sectors such as semiconductors and artificial intelligence [3][4]. Summary by Sections U.S. Policy and China's Response - The U.S. has implemented tariffs and export controls to curb China's technological advancements, but these measures have not significantly hindered China's progress [2][6]. - Chinese companies like BYD and CATL are leading in the production of electric vehicles and batteries, indicating a robust manufacturing capability [3][5]. Technological Advancements - China has achieved global leadership in five key technologies, while rapidly catching up in seven others [2][4]. - The report highlights that despite U.S. restrictions, China is expected to maintain its trajectory in artificial intelligence development, aided by stockpiling semiconductor equipment [7][9]. Market Dynamics - Chinese manufacturers are increasingly focusing on international markets, with BYD planning to expand its overseas deliveries significantly [6][11]. - The report notes that U.S. tariffs have not deterred Chinese companies from pursuing global opportunities, as evidenced by BYD's expansion plans in Southeast Asia and Europe [6][11]. Future Outlook - The report suggests that if the U.S. wants to maintain its competitive edge, it must accelerate its efforts to innovate and potentially reconsider its approach to China [5][9]. - China's self-sufficiency in semiconductor production is projected to increase, with estimates suggesting a rise to 40% by 2030, although much of this will be in older technology [9][10].