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.
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.”
Edited and posted by: Xiaoxin
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