Key Republican urges Biden to set broad restrictions on U.S. investments in China
ReutersAug 04, 2023
The Facts
On Wednesday, Pres. Joe Biden signed an executive order (EO) restricting US investment in some of China’s high-tech industries, including quantum computing, artificial intelligence, and advanced semiconductors.
The EO, aimed at preventing US capital and intelligence from aiding in China’s military modernization and the alleged undermining of US national security, comes amid rising tensions between the world’s largest economies.
The Spin
Pro-China narrative
The US is only hurting itself and the rest of the global economy by issuing an order that will exacerbate the supply chain crisis. Meanwhile, China will continue to develop semiconductors and other equipment that will make its military as advanced as it wants it to be. It’s a lose-lose for the US.
Nerd narrative
There’s a 20% chance that there will be a US-China war before 2035, according to the Metaculus prediction community.
