Joe Biden has made the list of Chinese companies accused of supporting Beijing’s military or espionage activities even longer. can no longer benefit from US investmentDemocrats are coordinating their steps on this issue with those of their Republican predecessor, Donald Trump.
The Democratic president amended an executive order issued last November to blacklist companies that produce or develop surveillance technologies; they say they could be used not only in China, but also against the Uighur Muslim minority and dissidents. but also around the world.
«This executive order allows the US to prohibit – in a targeted manner – US investments in Chinese companies that violate the security or democratic values of the US and our allies.“, The White House summed up in a press release it issued to the public.
Washington said the blacklist targeted both companies using “Chinese surveillance technology outside China” and “using (Chinese technology) to facilitate repression or serious human rights abuses,” mainly referring to Uighurs.
The initial list, compiled by the Donald Trump administration and released on November 12, included 31 companies believed to supply or support China’s military-industrial complex and security services.
The blacklist now includes 59 companies.
US individuals and US companies holding holdings or other financial interests in these Chinese companies are thus given until August 2 to terminate any relationship.
The blacklist includes big names in construction, telecommunications and technology: Huawei, the maker of telephones and telecommunications equipment; the giant public oil company CNOOC; China Railway Construction; China Mobile and China Telecom; the maker of Hikvision video surveillance systems. .Pi..
The Biden administration has made it clear that it wanted to “consolidate and strengthen” Donald Trump’s decree to “ban US investment in the military-industrial complex of the People’s Republic of China.”
Its purpose is, he insists, “American investment not to support Chinese companies that violate the security or values of the United States and our allies.”
Asked about the issue yesterday, before the executive decree was made public, Chinese diplomacy denounced the “political” investment ban imposed by the US on the days of Donald Trump, as it “does not take into account” the reality regarding the businesses affected.
“The United States must respect the rule of law” and “stop taking measures that harm the global financial market,” said Wang Wenbin, a spokesman for the Chinese Foreign Ministry.
“China will take the necessary measures to vigorously protect the legitimate rights and interests of Chinese companies,” he promised at a news conference.
After taking over the US presidency, Joe Biden has a tough stance on China. In this matter, his policy is a continuation of that of Donald Trump, who had launched a real attack on Beijing.
However, differing in this respect from his predecessor, Joe Biden wants diplomatic channels to be used and a common front against China to be drawn up with US international partners.
There is also consensus on the issue in the Washington Capitol. Republican senators Tom Cotton and Marco Rubio, along with Democrat Gary Peters and Mark Kelly, issued an open letter earlier this week urging the Biden administration to release a new blacklist.
“The US government must continue to act decisively to prevent the Chinese Communist Party from engaging in predatory behavior against our industrial base,” the statement said.
In the era of Donald Trump, The world’s two largest economic powers have been embroiled in a trade war that has resulted in the exchange of hundreds of billions of dollars worth of additional customs duties on goods., which weighed on the world economy.
Beijing and Washington, however, signed a bilateral trade agreement, declaring a ceasefire in the trade war in January 2020, shortly before the world was paralyzed by the new coronavirus pandemic.