A U.S. congressional commission on Tuesday proposed a Manhattan Project-style initiative to fund the development of AI systems that will be as smart or smarter than humans, amid intensifying competition with China over advanced technologies.
The bipartisan U.S.-China Economic and Security Review Commission’s (USCC) stressed that public-private partnerships are key in advancing artificial general intelligence (AGI), but did not give any specific investment strategies as it released its annual report.
Full report: https://www.uscc.gov/sites/default/files/2024-11/2024_Annual_Report_to_Congress.pdf
I do think they are a sufficient condition to kick off an arms race. Export controls are a declaration of hostility, and they force the two countries to decouple from each other. China and the US being decoupled makes the downside of an arms race much lower and the upside much higher.
It's hard to justify export controls unless you believe that we actually are in an arms race, sooner or later. If you wanted to prevent an arms race you couldn't pick a worse policy to put your weight behind. That leads me to conclude that AI policy people who back export controls find an arms race to be acceptable.