U.S. intends to build 'small yard and high fence' by imposing restrictions on investments in China

(People's Daily Online) 13:09, August 28, 2023

Cartoon by Tan Xiguang

U.S. President Joe Biden recently signed an executive order setting up screening mechanisms on outbound investments and restricting U.S. entities' investments in the semiconductors and microelectronics, quantum information technologies, and artificial intelligence sectors in China.

This is another move meant to stifle China's right to development and perpetuate U.S. hegemony. By politicizing, tooling, and weaponizing economic, trade and technological issues using the catch-all excuse of "safeguarding national security,” the U.S. is blatantly employing economic coercion and scientific and technological bullying of China.

What lies behind the U.S.' tighter restrictions on American entities' investments in China is the U.S. motive to build "small yard and high fence" and seek "decoupling" in investment under the guise of “de-risking,” which grossly undermines the international economic and trade order, and disrupts the security of global industrial and supply chains.

The U.S. should reverse its wrong decision and lift restrictions on U.S. investments in China to create a sound environment for China-U.S. economic and trade cooperation.

(Web editor: Hongyu, Du Mingming)


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