US urged to treat data as economic asset, follow China's lead

The United States must adopt a national data strategy that recognizes data as a critical economic asset, mirroring China's approach, to maintain its edge in emerging technologies like artificial intelligence and robotics. This is the urgent call from the US-China Economic and Security Review Commission (USCC), a key congressional advisory body.

The commission's report highlights a significant risk: the US could lose its global leadership in setting data standards to China. Such a shift would grant Chinese firms a substantial advantage in data-centric industries. "Standards are difficult to revise once adopted," the report cautions, emphasizing the need for proactive engagement. "Engaging now would be more effective than seeking to unwind an established standard later."

Since 2020, when Beijing officially designated data as a primary factor of production and a core strategic asset, China's data economy has reportedly begun to flourish. This growth is attributed to the establishment of numerous data exchanges nationwide and the implementation of pilot programs that facilitate the sharing and trading of data as a valuable resource. The report likens Beijing's strategy to the "top-down" industrial policy that has propelled China to leadership in other sectors, such as advanced manufacturing.

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Standards are difficult to revise once adopted. Engaging now would be more effective than seeking to unwind an established standard later.