Biden has expanded a Trump-era order to restrict Chinese companies it bans Americans from trading securities of dozens of Chinese Companies with alleged links to the Chinese military.
The black list was first signed by President Trump on last November China telecom and China mobile were among the 31 firms. In june biden added 28 companies to the list which now has a total of 59 companies it takes effect on august 2nd biden’s executive order cites security concerns while beijing calls it an abuse of the concept of national security.
China urges the United States to respect market laws and principles cancel these so-called lists that suppress Chinese companies and provide Chinese companies with a fair just and non-discriminatory business and investment environment china will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.
The Expert says, The move is an attempt by the U.S to decouple from China this is actually a political situation in that country and they would like to find some enemy or anniversary for their own say for some specific groups of interests to take China at the threat.
It’s not good for the relationship between the two countries and of course it’s not good for the public in the two countries.
High-tech companies in both countries will be affected but the U.S cannot restrict China’s progress in technological innovation.
The development of high-tech and science is a natural development for any country for any individual at this moment the United States can not stop it stop the cooperation stop the development.
While the biden administration has continued his predecessor’s aggressive approach against China it is unlikely China will make any compromises in the area of technology. The two sides should seek new model for future cooperation.