US Aims To Curtail Investment in Advanced Military Technology in China
Thursday February 9, 2023. 05:00 PM , from Slashdot
Growing concerns about China's military and economic ambitions have lawmakers and the White House weighing yet another effort to restrict Beijing's access to advanced technologies that could be used in war. From a report: This time, the U.S. government appears poised to extend its restrictions to a new area: American dollars that are used to finance the development of such technologies within Chinese borders. For months, the Biden administration has been preparing curbs on the investments that U.S. firms can make in China, particularly in areas like advanced computing.
Those measures are now largely complete and could be issued within two months. The Treasury Department has been reaching out to other governments, including the European Union, to try to ensure that they do not rush in to provide similar financing to China after the United States cuts it off, according to people familiar with the discussions. The voyage of a spy balloon across the United States has set off newfound fears about the national security threats posed by the Chinese government. This week, lawmakers on both sides warned the White House that if the administration did not move ahead with investment restrictions, Congress would propose its own.
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