U.S. to tighten rules on U.S. investment in China

U.S. to tighten rules on U.S. investment in China

Joe Biden’s administration seeks to limit China’s ability to acquire technologies that could enhance its military capabilities.

The administration of U.S. President Joe Biden is close to tightening rules for some of the investments made by U.S. companies overseas, an attempt to limit China’s ability to acquire technologies that could improve its military prowess, according to a U.S. official familiar with the deliberations.

The executive order soon to be issued by Biden will restrict U.S. investments in advanced technologies that have national security applications, such as state-of-the-art military capabilities that could help China improve the speed and accuracy of military decision-making, according to the official, who requested anonymity when making statements.

The planned move is the latest effort by the White House to specifically target China’s military and technology sectors at a time of heightened tensions between the world’s two largest economies.

In October, the Biden administration imposed export controls to limit China’s ability to access advanced microprocessors that it claims can be used in weapons manufacturing, violate human rights and improve the speed and accuracy of Beijing’s military logistics.

The complicated U.S.-China relationship was further strained in recent weeks after the U.S. government shot down a Chinese spy balloon last month that drifted over U.S. territory.

The Biden administration has also released U.S. intelligence findings that raise concerns that Beijing is weighing supplying weapons to Russia for its war in Ukraine.

The tensions were on display as diplomacy chiefs from the Group of 20 industrialized and developing nations concluded a contentious meeting in New Delhi on Thursday without a consensus on the war in Ukraine as concerns about China’s growing global influence dominated much of the talks.

Ben Oakley
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