Regarding the executive order, Reuters said in its latest report that it authorizes the U.S. Treasury Department to prohibit or restrict U.S. investments in Chinese entities in three areas, including semiconductors and microelectronics, quantum information technology, and artificial intelligence systems. In a letter to Congress, Biden said he declared the national emergency in response to "threats posed by advances in critical sensitive technologies and products such as military, intelligence, surveillance, or cyber capabilities" by countries such as China.
Such exaggerations of the so-called China threat have become commonplace in Washington. Reuters quoted people familiar with the matter as saying that the executive order is expected to be implemented next year after several rounds of public comment. While US officials insist the order is aimed at addressing the "most pressing national security risks" and not separating the highly dependent economic relationship, the move could still exacerbate tensions between the world's two largest economies.
For Biden signed the executive order on the 9th, the Russian satellite news agency said that Liu Pengyu, spokesman for the Chinese Embassy in the United States, responded later on the same day, expressing great regret. "Despite China's repeated expressions of deep concern, the United States continues to impose new investment restrictions. China is very disappointed, "Liu said." The nature of China-Us economic and trade relations is mutually beneficial. Two-way investment is an important part of bilateral trade."
"As the US pushes ahead with new restrictions on investment in China, China-Us relations are being tested again." According to a report by the New York Times on the 9th, the Biden administration plans to introduce restrictions on investment in China involving sensitive technology sectors, including quantum computing, artificial intelligence and advanced semiconductors, in order to prevent the transfer of dollars and expertise to China. The US media called the White House action "one of the first important measures taken by the United States to curb financial flows in the economic conflict with China", analysts believe that communication and enforcement of the measure will be difficult, and the US "business community has begun to oppose the politicization of private markets". Communications technology expert Xiang Ligang told the Global Times on the 9th that the United States will hold an election next year, and the Biden administration needs to show a tough attitude toward China under the campaign pressure, so it will use measures to suppress China as a tool to win votes. In this case, Washington does not value the effect of these measures after implementation, even if the interests of American companies will be hurt.
