Current techno-nationalism presents new risks in international business, amplifying volatility, uncertainty, and complexity for multinational enterprises (MNEs). This study explains how today’s techno-nationalism differs from its traditional form, the underlying theoretic logic, the damage it may cause to MNEs, and what MNEs can do to contain the potential harm. We elaborate on several points: (1) new techno-nationalism combines geopolitical, economic, national security, and ideological considerations, and is thus more complex and disruptive to international business than the traditional standpoint; (2) new techno-nationalism is underpinned by the realism doctrine, which portrays the world as zero-sum competition in which states leverage their power of economic coercion, and does not recognize the importance of technological interconnectivity, resource complementarity, open innovation, and positive-sum co-opetition; (3) techno-nationalism obstructs MNEs, especially those dependent on the global technology supply chain and on target country market contribution; and (4) MNEs can respond to techno-nationalism, defensively or offensively, contingent upon their exposure and ability to manage the risks associated with related policies.

当前的技术民族主义给国际商业带来了新的风险，加剧了跨国企业 (MNE) 的波动性、不确定性和复杂性。本研究解释了今天的技术民族主义与其传统形式的不同之处、潜在的理论逻辑、它可能对跨国公司造成的损害，以及跨国公司可以采取哪些措施来遏制潜在的损害。我们详细阐述了几点：（1）新的技术民族主义结合了地缘政治、经济、国家安全和意识形态方面的考虑，因此比传统立场更复杂，对国际商业的破坏性更大；(2) 新的技术民族主义以现实主义理论为基础，将世界描绘为国家利用经济胁迫力量的零和竞争，不承认技术互联互通的重要性，资源互补、开放式创新、正和竞合；(3) 技术民族主义阻碍跨国公司，尤其是那些依赖全球技术供应链和目标国市场贡献的跨国公司；(4) 跨国企业能否应对技术民族主义，无论是防御性的还是进攻性的，取决于它们的暴露程度和管理与相关政策相关的风险的能力。