Biden Administration restricts US investment in tech China's military might employ
US president Joe Biden on Wednesday issued an executive order restricting stateside investors from sinking their funds into Chinese firms developing certain technologies, as part of an effort to prevent such products being used by China's military.
The White House reckons that"barriers between civilian and commercial sectors and military and defense industrial sectors" in these countries range from thin to non-existent, as tech developed in the private sector is funneled to military interests. Biden called investment a"cornerstone" of US economic policy and clarified that the the nation supports cross-border investment when it is not inconsistent with US national security interests.
The program will target transactions involving acquisition of equity interests ; greenfield investments; joint ventures; and certain debt financing transactions that are convertible to equity, said the Treasury Department.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jaden Smith’s New Sustainable Luggage Label Checks Into SelfridgesAn unexpectedly British venture from the American polymath
Read more »
Boots breaks silence on 600-home plan amid builder administrationIlke Homes, which produced factory-built modular properties, had been chosen as the retail giant's construction partner
Read more »
TSMC and friends press ahead with €10B German chip fabNXP, Infineon, Bosch each nab 10% stake in joint venture
Read more »
Hopes fade for Wilko rescue deal as administration loomsWilko, which was founded in 1930, is likely to fall into administration later on Thursday, putting around 12,000 retail sector jobs at risk, Sky News understands.
Read more »
300 jobs at risk as Glasgow engineering company goes into administrationGlasgow-based nuclear decommissioning specialist JFN Limited has gone into administration putting 300 jobs at risk
Read more »
Chinese economy falls into deflation as recovery stumbles\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »