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(ECNS) -- U.S. President Joe Biden signed an executive order Wednesday limiting U.S. investments in advanced technology industries in China. The move is widely considered to be politicizing, instrumentalizing and weaponizing tech and trade issues, another step to suppress China"s technological progress under the pretext of national security.
“Politicians increasingly regard corporate investments in China as a form of collusion with a foreign enemy, even when there is no allegation of illegality,” reported The New York Times, citing Gabriel Wildau, a managing director at a consulting firm.
The U.S. government has continued to build "a small yard with high fences", inhibiting China"s progress in science and technology. This strategy not only undermines the international economic and trade order but also significantly disrupts the security of global industrial and supply chains. Furthermore, it fails to yield benefits and instead leads to numerous disadvantages for the United States itself. Such actions can be likened to boomerangs, as they are bound to rebound on the U.S., leading to adverse consequences.
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