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Biden To Limit US Investment In Chinese Technology
The Daily Guardian
|June 24, 2024
The Joe Biden administration is mulling to curb US investment in critical Chinese technology industries that are crucial to modernising China's military.
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The proposed Treasury Department rules would prohibit certain US investments in Chinese companies that are developing semiconductors, quantum computers and artificial intelligence systems. The Biden administration is trying to restrict American financing from helping China develop advanced technology that could be used for weapons tracking, government intelligence and surveillance, The New York Times reported.
This proposal if put into action, will further strain economic ties with Beijing at a time when trade tensions are rising.
The proposal is expected to be finalized later this year.
Dit verhaal komt uit de June 24, 2024-editie van The Daily Guardian.
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