Biden issues an executive order restricting US investments in Chinese technology

WASHINGTON (AP) — President Joe Biden has signed an executive order to block and regulate high-tech U.S.-based investments going toward China. The administration says the move is targeted even though it reflects an intensifying competition between the world’s two biggest powers. The order signed Wednesday (Aug. 9, 2023) covers advanced computer chips, micro electronics, quantum information technologies and artificial intelligence. Senior administration officials says that the effort stemmed from national security goals rather than economic interests, and that the categories it covered were intentionally narrow in scope. The order seeks to blunt China’s ability to use U.S. investments in its technology companies to upgrade its military while also preserving broader levels of trade.