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Sens. Menendez, Risch unveil bipartisan bill to counter China

Senate Foreign Relations Committee Chair Bob Menendez (D-N.J.) and ranking member Sen. Jim Risch (R-Idaho) on Thursday announced their finished bipartisan proposal to counter China's rising political and financial power.

Why it matters, via Axios' China reporter Bethany Allen-Ebrahimian: This bill marks a culmination of years of growing bipartisan concern, and the rise of an increasingly authoritarian China. If it passes, it will send a strong signal to Beijing that both parties are unified in defending democratic values from authoritarian encroachment.


Details: Under the proposed bill, the U.S. would ...

What they're saying: "The United States government must be clear-eyed and sober about Beijing's intentions and actions, and calibrate our policy and strategy accordingly," Menendez said in a statement.

  • "I am incredibly proud to announce this unprecedented bipartisan effort to mobilize all U.S. strategic, economic, and diplomatic tools for an Indo-Pacific strategy that will allow our nation to truly confront the challenges China poses to our national and economic security."

What's next: The Senate Foreign Relations Committee will review the bill and vote on April 14, Menendez said.

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Why the startup world needs to ditch "unicorns" for "dragons"

When Aileen Lee originally coined the term "unicorn" in late 2013, she was describing the 39 "U.S.-based software companies started since 2003 and valued at over $1 billion by public or private market investors."

Flashback: It got redefined in early 2015 by yours truly and Erin Griffith, in a cover story for Fortune, as any privately-held startup valued at $1 billion or more. At the time, we counted 80 of them.

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Why it matters: The changes could reduce traffic to some news publishers, particularly companies that post a lot of political content.

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