US plans to limit investment in China’s technology sector, - Bloomberg
The USA intends to ban US citizens and companies from investing in critical Chinese technologies.
As reported by Censor.NET with reference to Ukrinform, Bloomberg writes about this.
"President Joe Biden intends to sign an executive order limiting critical American technological investments in China by mid-August," the newspaper said, citing sources.
The decree will focus on semiconductors, artificial intelligence, and quantum computers.
"It will not apply to existing investments and will prohibit only certain transactions. It will be necessary to inform the government about other agreements," the authors of the material clarify.
At the same time, the publication notes, the signing of the decree has already been postponed several times and it may happen again.
"The restrictions won't go into effect until next year, and their scope will be determined during the rule-writing process, which will include a comment period for interested parties to have their say on the final version," the article said.
The upcoming order is part of a broader effort by the White House to limit China's ability to develop next-generation technologies critical to national and economic security.
"These efforts have complicated the already difficult relations of the Biden administration with China, which sees these restrictions as an attempt to restrain and isolate the country," the authors of the article concluded.
