China Ministry of Commerce has indicated its intention to respond, if necessary, the Biden administration issued order to the recent executive to restrict U.S. investments in advanced Chinese technology. The order has raised concerns over potential impacts on technology businesses and international economic relations.
U.S. President Joe Biden’s order aims to limit American investments in Chinese firms in semiconductors, quantum computing, and AI. The U.S. Treasury is primarily responsible for implementing the order and is currently soliciting public comments to formulate a draft regulation.
CHINA MINISTRY:
Chinese Ministry of Commerce has been actively engaging with businesses to assess the potential impact of the executive order. Spokesperson Shu Jueting states that the ministry is assessing the order’s impact and will respond accordingly.
CHINA COMMITMENT:
The move underscores Chinese commitment to safeguarding its economic interests and technological advancements. As the U.S. tightens its investment restrictions on specific Chinese technology sectors, China is positioning itself to respond in a manner that best protects its economic and technological interests.
Shu Jueting stated that the ministry is closely monitoring the situation and is in the process of understanding how the executive order may affect Chinese businesses and industries. By gathering insights from various stakeholders, they aims to formulate a well-informed and effective response that aligns with its economic priorities.
Besides addressing the executive order, China is assessing its potential effects on ongoing economic and diplomatic ties with the US. While the order targets explicitly specific sectors due to national security concerns, it has broader implications for the overall bilateral relationship between the U.S. and China.
China measured response reflects its commitment to maintaining open communication channels with the United States. Although the specifics of U.S. Commerce Secretary Gina Raimondo’s visit to China were not confirmed. Shu Jueting emphasized that the two countries are engaged in close communication.
The executive order and its subsequent response highlight the ongoing challenges in the complex relationship between the U.S. and China. Both countries are navigating issues related to technological competition, economic interdependence, and national security considerations. While safeguarding interests, establishing shared understanding and handling potential disputes will be vital for their bilateral relations.
The situation also underscores the importance of international cooperation and effective dialogue between nations. While addressing issues related to technological advancements and economic investments requires collaborative efforts that promote transparency. fair competition, and the protection of national security interests.
CHINA’S REPLY:
With the executive order’s effects and Chinese reply uncertain, but current events underscore global economic relations’ fluidity. Urging nations to adjust to changing situations. As technology plays a pivotal role in shaping the future, hence finding a balance between innovation, security, and cooperation will be crucial for China and the United States.