China tech further severed from US fundings after Biden ban
President Joe Biden on Wednesday signed an executive order barring U.S. investments in certain tech sectors of China, confirming rumors that have been swirling for months that Washington would ramp up efforts to squeeze its rival’s tech industry amid growing concerns about its rival’s military ambitions.
The order authorizes the U.S. Secretary of the Treasury to restrict U.S. investment in three categories of Chinese companies: quantum computing, artificial intelligence related to military uses, and advanced semiconductors.
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