A U.S. official familiar with the matter has revealed that the Biden administration may implement stricter regulations on certain foreign investments made by American companies. The move aims to curtail China’s ability to acquire technologies that could potentially enhance its military strength, VOA reports.
President Joe Biden is expected to issue an executive order soon to restrict American investments in advanced technologies with national security implications. This includes cutting-edge military capabilities that could boost China’s decision-making speed and accuracy.
At a time when relations between the two largest economies in the world are becoming tenser, the anticipated move is the White House’s most recent attempt to target China’s military and technology sectors.
Export restrictions were put in place by the Biden administration in October to prevent China from gaining access to cutting-edge chips that it claims can be used to produce weapons, violate human rights, and enhance military operations.
After the United States shot down a Chinese spy balloon traveling the nation last month, the already tense relationship has gotten even tenser recently.
The Biden administration has also made public U.S. intelligence results that raise doubts about Beijing’s consideration of arming Russia in its ongoing conflict with Ukraine.
“One of the most important things we can do, from my perspective, is to make sure we draw clear lines between what is competition and what is national security because, fundamentally, my view is that the United States does well when we’re competing on a level playing field with any country in the world,” Deputy Treasury Secretary Wally Adeyemo said at recent Council on Foreign Relations event. “But we also want, in the narrow spaces where we see national security risk, [to] be able to use the tools at our disposal to protect the national security of the United States of America.”
Be the first to comment