AFP
NOS Nieuws•morgen, 00:08
The US government wants to limit some investments by US companies in Chinese technology, and allow other investments only after approval from Washington. President Biden has issued a decree to that effect. With the measure, he wants to prevent China from acquiring highly advanced technology, says a US official. The measure has been expected for some time.
According to Washington, the measures are aimed at investments in the chip sector, artificial intelligence and quantum computers. With the latter technique, computers can perform much more complex calculations than computers can do now.
The decree states that investments in “countries of concern” will be regulated. China, Hong Kong and Macau are also mentioned. According to the government, other countries may be added to the list in the future.
The move may increase tensions between China and the United States, but Washington says the measure is not being taken for economic reasons, but for national security reasons. Also, the rules only apply to new investments and will not apply to existing investments.
Investments in Chinese army
“For too long, American money has aided the rise of China’s military,” said Chuck Schumer, the Democratic leader in the US Senate. “We are now taking the first steps to ensure that US investment does not go to the development of China’s military.” He added that Congress still has to approve the measures.
Experts expect it will take at least 2024 for the measures to take effect. An expert from the Center for Strategic and International Studies says he expects that only investments for military purposes will be restricted, and that other investments only require a notification to the US authorities.
According to Washington, the measures have been discussed extensively with allies and partners.
Relations between China and the United States have been tense for some time. For example, Biden has not abolished import duties that Donald Trump had introduced. Export restrictions have also been introduced against the Chinese tech sector. These measures also have a Dutch link. For example, the export of machines from chip machine manufacturer ASML has been further limited as of September 1, following pressure from the US.
2023-08-09 22:08:11
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