The US Senate’s new legislation, the Strategic Competition Act of 2021, lays out a wide-ranging strategy for the first time to contain China's attempt to expand globally, media reports said.

“The legislation will have a profound effect on every Chinese technology firm,” Cameron Johnson, an adjunct faculty instructor at New York University and a partner at Shanghai-based Tidal Wave Solutions told The South China Morning Post.

“This includes in terms of developing new technologies, global investment strategies, selling into US-allied countries, receiving support from the Chinese government, and how the country’s technology market interacts and influences global governance and standards-setting," Cameron Johnson said.

The fresh development occurred amid deteriorating relationship between the US and China over numerous issues in recent times.

(IBNS)