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Biden signs order limiting US investments in Chinese technology

by Abbey Fenbert August 10, 2023 5:06 AM 1 min read
U.S. President Joe Biden. (Photo by Al Drogo/Bloomberg via Getty Images)
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U.S. President Joe Biden signed an executive order restricting investments in certain national security technologies in "countries of concern," including China, the White House announced on Aug. 9.

The countries named in the order are China, Hong Kong, and Macau.

Biden's order restricts investments in technology that "significantly enhances [these countries'] ability to conduct activities that threaten the national security of the United States."

The order specifically curtails investments in semiconductors and microelectronics, quantum information technologies, and artificial intelligence.

China has supported Russia from the onset of the full-scale invasion of Ukraine in February 2022, pitting Beijing against the U.S. and western allies.

While China refuses to provide Russia with lethal aid, top U.S. officials have expressed concern that private Chinese firms could circumvent the state by selling technology to the Russian military.

The Aug. 9 order calls for limitations on investments in technologies that are developed "to counter United States and allied capabilities."

Recently, there have been signs of a cooling relationship between Beijing and Moscow. In early August, China also took part in the Saudi Arabia peace talks, to which Russia was not invited.

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