China accuses US of ‘paranoid delusion’

Beijing: Beijing on Wednesday accused Washington of "paranoid delusion" after the US Senate passed a sweeping industrial policy bill aimed at countering the surging economic threat from China.

America’s political parties overcame partisan divisions to support pumping more than $170 billion into research and development, one of the most significant achievements in Congress since Joe Biden’s presidency began in January.

The United States Innovation and Competition Act represents the largest investment in scientific research and technological innovation "in generations", according to Senate Majority Leader Chuck Schumer. "We are in a competition to win the 21st century, and the starting gun has gone off," Biden said.