“Joe Biden announces restrictions on US investment in Chinese chip and AI technology” – Business Standard

In a move that could have far-reaching implications for the US-China relationship, President Joe Biden has finalized plans to restrict American investment in Chinese companies involved in the development of advanced semiconductor and artificial intelligence (AI) technology.

The announcement, which comes after months of speculation and debate within the Biden administration, marks a significant shift in US policy towards China. The new restrictions are aimed at curbing the flow of American capital into Chinese companies that are seen as strategic competitors in the global tech industry.

The move is likely to have a major impact on companies such as Huawei, which has been at the center of tensions between the US and China over national security concerns. The restrictions could also affect other Chinese tech firms that have been identified as potential threats to US interests.

The Biden administration has framed the new restrictions as part of a broader effort to protect American technological leadership and national security interests. The administration has expressed concerns about China’s efforts to acquire advanced technology through investment in US companies, as well as the potential for Chinese companies to use American capital to develop technologies that could pose a threat to US security.

The announcement has already drawn criticism from some quarters, with critics warning that the restrictions could harm US companies that rely on access to Chinese markets for their own growth and innovation. However, supporters of the move argue that it is necessary to protect American interests in the face of growing competition from China in key technological sectors.

Overall, the finalization of these restrictions represents a significant escalation in the US-China tech war, with potentially wide-ranging implications for the global tech industry. As the Biden administration moves forward with implementing these measures, the world will be watching closely to see how China responds and how the tech landscape continues to evolve.