August 10, 2023
President Joe Biden has signed an executive order that restricts new U.S. investment in China’s critical technology sectors. The order, which was released on Wednesday, targets investments in semiconductors, microelectronics, quantum information technologies, and certain artificial intelligence systems.
The goal of the order is to prevent American capital from aiding China’s technological progress, which could pose a threat to U.S. national security. The order gives the U.S. Treasury secretary the authority to prohibit or restrict investments in Chinese entities in the designated sectors.
The order has been met with mixed reactions. Some experts have praised the move, saying that it is necessary to protect U.S. interests. Others have criticized the order, saying that it could damage the U.S. economy and harm relations with China.
China has expressed “deep concern” about the order and has said that it will take “necessary measures” to protect its interests. It is unclear how the order will play out in the long term, but it is likely to have a significant impact on the relationship between the United States and China.
The sources for this piece include an article in Reuters.
