March 3, 2026, 10:56 a.m. ET
Recently, the head of antitrust for the Trump administration’s Department of Justice, Gail Slater, resigned from her post. Per reports, this stemmed in large part from tension with Attorney General Pam Bondi, who grew frustrated with Slater’s insistence on blocking a merger between Hewlett Packard Enterprises, or HPE, and Juniper Networks that the CIA Director John Ratcliffe insisted was necessary to keep us competitive with China.
Talk about the technology rivalry between the United States and China usually centers on dramatic topics such as artificial intelligence, hypersonic missiles, drone swarms and nuclear weapons. The competition is often described as a battle over computer chips and software. But this narrow focus misses something essential. Technological power is not just about inventions or weapons. It is also about money, corporate strategy and a government’s ability to direct resources toward national goals. In this broader contest, China holds a clear advantage. As Washington struggles to respond, the merger between HPE and Juniper shows how American companies are stepping forward to fill a growing gap.
China’s strength comes from the close relationship between its government and its corporations. Chinese companies operating overseas do not rely only on private investors. They can also draw on major financial support from the Chinese state. This support flows through a complex and often secretive network of subsidies and financial institutions. The China Development Bank and the Export-Import Bank of China function not only as lenders but also as tools of foreign policy. When Beijing decides that a certain industry or region is strategically important, funding quickly follows.
This system allows China to move with speed and unity. Chinese firms can enter developing markets with large financing packages that combine loans, construction, technology and diplomatic backing. These deals often blur the line between business and government policy. As a result, Chinese companies can shape infrastructure, telecommunications networks and digital systems in ways that support Beijing’s long-term interests. Competitors frequently struggle to match the scale of these offers, leaving local governments with few real alternatives.
The United States does not have a comparable system. Agencies such as the Export-Import Bank of the United States and the Partnership for Global Infrastructure and Investment operate on a much smaller scale than their Chinese counterparts. Even at their most ambitious, they do not approach the level of China’s overseas lending during peak years. The dissolution of USAID has further reduced Washington’s ability to link foreign policy with investment.
If the Trump Administration’s strategy of flexible realism is to have a real impact, diplomats must possess resources that can serve as explicit components of political bargains. A credible alternative to Chinese financing requires real money and real projects. Without that capacity, key markets, supply chains and digital ecosystems may tilt toward Beijing by default. Encouraging private investment is not enough if the government lacks the tools to directly support strategic goals.
In response to this imbalance, American companies are adapting. The private sector remains one of the country’s greatest strengths. When government institutions cannot move at the same scale as China’s, corporations seek other ways to compete. One of the most important strategies has been consolidation through mergers. By combining resources, companies can gain the size and integration needed to challenge state-backed Chinese firms.
The merger of HPE’s networking assets with Juniper stands out as a leading example. By joining forces, HPE and Juniper are combining artificial intelligence tools, networking hardware and enterprise systems into a more unified platform. This integration allows them to offer customers a comprehensive solution that connects campus networks to cloud systems. In effect, they are building an American-led alternative to Huawei’s broad technology model.
This kind of integration is critical in a world where AI strengthens everything it touches. The future of competition extends beyond AI itself. It includes logistics, infrastructure, cloud computing, telecommunications, electric mobility, energy storage, biotechnology and consumer platforms. By bringing together hardware, software and AI-driven network management, HPE and Juniper aim to compete at the scale required in today’s global markets. Their partnership reflects an understanding that success now depends on offering complete ecosystems rather than isolated products.
Other American firms, including Dell, are pursuing similar strategies to gain size and efficiency. At the same time, legal actions by state officials against certain Chinese firms show a willingness to defend U.S. companies from unfair practices. Still, lawsuits and regulations alone cannot replace large-scale financing. Chinese firms benefit from the backing of a government that can mobilize vast resources quickly. Without stronger institutional support, American companies must rely heavily on their own balance sheets.
The HPE and Juniper merger demonstrates both the strength and the limits of America’s current approach.
On the one hand, it shows that private innovation and corporate strategy can respond creatively to global challenges. HPE’s rapid integration of Juniper’s capabilities highlights how quickly U.S. firms can reorganize to compete.
On the other hand, it also reveals how much responsibility has shifted from government institutions to private companies.
In the end, technological leadership depends on more than advanced research. It requires the ability to finance projects, build infrastructure and shape global markets. China has built a system that connects its corporations directly to state power. The United States has yet to create a comparable structure. Until it does, companies like HP and Juniper will remain on the front lines of competition.
Their merger is more than a business deal. It is a strategic response to a world in which scale, integration and capital determine influence. By combining AI, networking and enterprise systems, HPE and Juniper are helping preserve an American presence in critical technology ecosystems. Their example proves the article’s central point. When government capacity falls short, corporate leadership becomes essential. HP and Juniper are not just adapting to global competition. They are carrying a significant share of America’s technological future.
Wesley Alexander Hill is the assistant director of the Energy, Growth and Security Program at the International Tax and Investment Center and an expert in grand strategy, geoeconomics and international relations, with a regional focus on China, Eurasia and Sub-Saharan Africa.
