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Article 1: Biden issues executive order restricting US investment in Chinese
Published on: 9 Aug 2023
President Joe Biden on Wednesday signed an executive order that will narrowly prohibit certain
United States investments in sensitive technology in China and require government notification
of funding in other tech sectors.
Biden said in a letter to Congress he was declaring a national emergency to deal with the threat
of advancement by countries like China “in sensitive technologies and products critical to the
military, intelligence, surveillance, or cyber-enabled capabilities”.
The long-awaited order authorises the US treasury secretary to prohibit or restrict certain US
investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum
information technologies, and certain artificial intelligence systems.
Senior administration officials said that the effort stemmed from national security goals, rather
than economic interests and that the categories it covered were narrow in scope. The order seeks
to blunt China’s ability to use US investments in its technology companies to upgrade its military
while also preserving broader levels of trade that are vital for both nations’ economies.
The US and China appear to be increasingly locked in geopolitical competition, along with their
deep trade relationship as the …
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