This would be one of the first significant steps by the US in its economic clash with China. Read more at straitstimes.com.
WASHINGTON – The Biden administration plans on Wednesday to issue new restrictions on American investments in certain advanced industries in China, according to people familiar with the deliberations, a move that supporters have described as necessary to protect national security, but that will undoubtedly rankle Beijing.
The restrictions would bar private equity and venture capital firms from making investments in certain high-tech sectors, such as quantum computing, artificial intelligence and advanced semiconductors, the people said, in a bid to stop the transfer of American dollars and expertise to China. Biden officials have emphasised that outright restrictions on investment would narrowly target a few sectors that could aid the Chinese military or surveillance state as they seek to combat security threats but not disrupt legitimate business with China.
But the Biden administration has continued to push to “de-risk” critical supply chains by developing suppliers outside China, and it has steadily ramped up its restrictions on selling certain technologies to China, including semiconductors for advanced computing.
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