Biden Issues New Order to Block Chinese Investment in Technology in the U.S.!

Biden signed an executive order to strengthen the Federal power for blocking the Chinese investment in US technology.

It will limit private data access to US citizens, but will heighten tensions with Beijing.

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The new order is designed to focus the actions of the secretive Committee on Foreign Investments in the United States

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The committee, CFIUS, is already scrutinizing TikTok, Chinese-owned video app that raises worry could expose its users’ data to the Chinese government

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The Chinese agencies have gathered great amounts of US data from the US citizens.

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The executive order being anticipated for months does not regulate the "outbound investments" of the American companies.

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The new order directs CFIUS to concentrate on specific types of transactions that would give a foreign power access to technologies

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Biden’s order to focus CFIUS on certain technologies does not require the amendment of its authorizing laws

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The order also authorizes the committee to block any deal that “erodes United States cybersecurity.”

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And it urges review of “incremental investments over time in a sector or technology”

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