President Joe Biden has signed a new executive order that there will be certain US investment restrictions in China, including the likes of artificial intelligence and quantum technology.
President Joe Biden has signed a new executive order that restrains certain US investments in China, including artificial intelligence and more.
According to the article published by NTD, the white house has released an announcement about President Biden’s new executive order to have investment restrictions in China. The said investment restrictions in China are of the following fields: artificial intelligence, quantum technology, and semiconductors.
The director of China Policy at the Center for Security, Bradley Thayer, talked about the investment restrictions in China. Thayer thinks that the investment restrictions in China are essential to minimize the ability of China to access the US.
The investment restrictions in China are said to be protecting the US national security by blocking China from using technologies to strengthen their military and increase its surveillance and monitoring capabilities.
The move by President Biden is a big step in the restriction of technology transfer to China from the US.
From the article published by ABS News, stated that the investment restrictions in China are a national security action and not an economic one, said by an official. The official also stated that cross-border investment plays a role in the health of the American economy but the investment restrictions in China are aimed at targeting the protection of national security.
The Treasury Department has made plans for the investment restrictions in China. They plan to completely restrict US based entities from making certain investments, requiring investors to notify in advance of other transactions.
In response to the investment restrictions in China, the Chinese Embassy released a statement saying that the restrictions were politicized and anti-business, even insisting that there were no security concerns.