China is accusing the United States of obstructing its progress in its development of technology as President Joe Biden escalated tensions regarding technology and security. This was done by imposing stricter regulations on American investments that could potentially aid China in their military advancements.
US Blocking China’s Development Of Technology, China Claims.|PBS
China has accused the United States of blocking its progress in their development of technology.
The Foreign Ministry of China criticized the Biden administration, accusing it of seeking technological dominance and urged the immediate reversal of its decision which is blocking their development of technology further.
The Chinese government expressed concerns that the new restrictions imposed by the US on industries related to advanced computer chips, microelectronics, quantum information technologies, and artificial intelligence could harm its development of technology affecting global supply chains.
The order signed by President Biden aims to curb American investment in sectors that could support the military activities of China’s ruling Communist Party.
The order imposes further limitations on Chinese access to American processor chips used in development of technology like smartphones, artificial intelligence, and other technology, citing security concerns. Additionally, numerous Chinese companies, alleged to be connected to military advancements, are prohibited from participating in American financial markets.
The Chinese Foreign Ministry claimed that Washington’s true objective with the said order is to deprive China its rights regarding its development of technology, and to uphold its own hegemony.
According to AP News, the Biden administration has introduced sanctions amid its efforts to mend the relations between the United States and China. These relations have deteriorated significantly over several issues including security, human rights, and development of technology, Taiwan, and Beijing’s actions towards Hong Kong.
The Ministry of Commerce in China has stated that it will protect its own rights and interests but has not mentioned any specific response to the latest U.S. trade restrictions on its development of technology. In the past, China has made similar statements but has usually not taken any action.
The U.S. government has introduced new limitations to certain transactions with China, specifically related to China’s development of technology and advanced computer chips.
These restrictions are put in place to complement export controls. U.S. investors would need to inform the government about specific transactions with China, and some transactions would be prohibited altogether. However, these limits are designed in a way that wouldn’t negatively impact China’s economy or China’s development of technology.
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