Investors are pouring capital into emerging technology companies, including many focused on artificial intelligence and related sectors. Policymakers in the United States and elsewhere are increasingly concerned about the national security implications of outbound investment, and specifically flows of U.S. capital into China’s tech sector. Some in Washington, DC are advocating for an investment security regime to address the national security risks associated with these outflows.
How much does U.S. capital support China’s technological ambitions in AI? CSET researchers Emily Weinstein and Ngor Luong sought to answer this question by evaluating the size, frequency, and nature of U.S. investment in Chinese AI companies. On February 16, they provided an overview of their initial findings, followed by a moderated Q&A with Emily Kilcrease of CNAS.
Recording and Discussion
Participants
Emily S. Weinstein is a Research Fellow at Georgetown’s Center for Security and Emerging Technology (CSET), focused on U.S. national competitiveness in AI/ML technology and U.S.-China technology competition. She is also a Nonresident Fellow at the Atlantic Council’s Global China Hub and the National Bureau of Asian Research. In her previous role at CSET, Emily conducted research on China’s S&T ecosystem, talent flows, and technology transfer issues. Emily has previously testified before the U.S.-China Economic and Security Review Commission and the Wisconsin State Legislature’s Senate Committee on Universities and Technical Colleges. She has written on topics related to research security and China’s S&T developments in Foreign Policy, Lawfare, DefenseOne, and other outlets. Emily holds a BA in Asian Studies from the University of Michigan and an MA in Security Studies from Georgetown University.
Ngor Luong is a Research Analyst at CSET, focusing on China’s science and technology ecosystem, AI investment trends, and AI diplomacy in the Indo-Pacific region. She is also a nonresident fellow at the Atlantic Council’s Global China Hub, where she focuses on China’s tech, economy, and business. Prior to CSET, Ngor worked at the Center for American Progress, where she researched China’s industrial policy and 5G. Her work and commentary have appeared in the Wall Street Journal, Nikkei Asia, the Diplomat, among other outlets. She is a co-author of the Routledge-published “Chinese Power and Artificial Intelligence.” Ngor received a BA magna cum laude in International Politics and Economics from Middlebury College. She is enrolled as an M.A. candidate in Georgetown University’s Security Studies program with a concentration in technology and national security.
Emily Kilcrease is a Senior Fellow and Director of the Energy, Economics, and Security Program at CNAS. Her research focuses on the U.S.-China economic relationship; alignment of national security objectives and economic policy; and geoeconomic statecraft. Kilcrease previously served as a deputy assistant U.S. trade representative (USTR), overseeing the development, negotiation, and coordination of U.S. foreign investment policy. She served as the senior career staffer leading USTR’s work on the Committee on Foreign Investment in the United States (CFIUS) and coordinated USTR’s policy engagement on related national security and economic tools, including export controls and supply chain risk management. Previously, Kilcrease served on the National Security Council (NSC) as a director for international trade, investment, and development. Prior to the NSC, she served at the Department of Commerce overseeing the department’s CFIUS work. She began her government service at the Department of Interior working on trade and environment policy. Kilcrease’s commentary has been cited by major national press outlets, including The New York Times, The Wall Street Journal, Financial Times, Reuters, NPR, and ABC News. She has testified on coercive economic statecraft before the U.S.-China Economic and Security Review Commission. Kilcrease received her M.A. in international relations, with a concentration in international development and economics, from the Johns Hopkins School of Advanced International Studies. She received her B.A. in government from Georgetown University.