Vance Slams Globalization For Hampering American Innovation

U.S. Vice President J.D. Vance text for hampering American innovation in a speech to entrepreneurs and venture capitalists on Tuesday, arguing that offshoring has eroded U.S. technological leadership. "Our workers have been failed by the government of the last 40 years," Vance told the American Dynamism Summit, criticizing two "conceits" of globalization: that nations manufacturing products wouldn't eventually design them too, and that cheap foreign labor benefits innovation. "As they got better at the low end of the value chain, they also started catching up on the higher end. We were squeezed from both ends," Vance said, adding that "cheap labor is fundamentally a crutch" that inhibits technological advancement. The Trump administration recently rolled back Biden-era AI regulations, with Vance emphasizing their goal to "incentivize investment in our own borders, in our own businesses, our own workers and our own innovation." Vance, a former venture capitalist, dismissed fears about AI eliminating jobs, comparing it to ATMs which ultimately created more financial sector roles.Read more of this story at Slashdot.
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