Well-known Chinese news site Tencent News recently reported that, since February 2023, multiple major U.S. media outlets have successively quoted U.S. officials in their reports, stating that the White House intends to prohibit U.S. companies from investing overseas in some advanced technology-related industries that may threaten national security. Although these reports did not mention any country, people familiar with the matter broke the news that the new regulations formulated by the White House mainly involve U.S. investment in China. Earlier, the outside world generally believed that, as the world’s two largest economies, China and the United States are deeply connected in the economic field and Washington does not intend to turn its face away completely. Now it appears that the Biden Administration seems to be preparing for a complete showdown. The U.S. media revealed that the White House is preparing to introduce a comprehensive policy to contain China. Bloomberg did suggest that the U.S. government’s investment restrictions on U.S. companies may be too strict. They may cause companies to move their business from the U.S. to other countries. The new restrictions may end up having little benefit to national security and will further weaken America’s global competitiveness. It is worth mentioning that the U.S. media used the word “unprecedented” to describe the new regulations formulated by the White House. Therefore, for the time being, it can be regarded as a comprehensive policy of containing China. One report also showed that a U.S. official confirmed that the government has begun briefing groups such as industry organizations in the U.S. and the American Chamber of Commerce in China on the outline of the regulations. However, some details of the new policy are yet to be finalized.
Source: Tencent News, April 24, 2023