[Commentary]Biden Bans U.S. Investments in 59 Chinese Companies

Author: MOS Fitness Group — Ivy001

On Thursday, June 3, President Biden signed an executive order barring U.S. entities from investing in dozens of Chinese communist state companies with alleged ties to the defense or surveillance technology industries. The Biden administration stated the move expands the coverage of a legally flawed executive order put in place under Trump.

According to Reuters, a U.S. official reported that they will “fully expect that in the coming months…we will include more Chinese Communist Party companies in the list of restrictions under the new executive order.” Wenbin Wang, the spokesperson of Ministry of Foreign Affairs, responded on Friday, urging the U.S. to respect market laws and principles and to withdraw its “so-called lists” that suppress Chinese companies.

Picture source : RFI

It is clear that when it comes to the Chinese Communist Party(the CCP), the Biden administration is continuing Trump’s approach. To a certain degree, the Biden administration is pushing even harder when countering the CCP. The CCP led by Xi Jinping originally expected that the tensions between the United States and the Communist Party of China would be released after Biden won the presidency, and that sanctions against the CCP would also be terminated. Now it seems that the hope of the CCP and Xi Jinping has been crushed.

In addition, based on the statement of the Ministry of Foreign Affairs of the CCP, it seems that the CCP is only capable of protesting verbally. It has no substantive solution to the U.S. government’s counter-strategy.

As Kurt Campbell, the White House National Security Council’s Indo-Pacific coordinator, stated last month: the US-China engagement era has come to an end, and competition will be the “the dominant paradigm.”

https://cn.reuters.com/article/china-mofa-us-investment-ban-list-0604-idCNKCS2DG0SG

Edited and posted by: Xiaoxin

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Timothy Bair
13 days ago

Biden deals in the art of distraction. If he says he’s restricting certain companies, the truth lies in what restrictions he is not placing upon them or removing from the thousands of other companies

Biden is desperately trying to put these many orders in place for the CCP before President Trump resumes his duties as President…which will be sooner than most think

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