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EU, China to Ink Investment Pact as Trump Admin Blacklists Major State-Controlled Chinese Firms
 [LI] While the Trump administration takes tough measures to limit Chinese state-run companies’ access to U.S. technology and market, the European Union is in the final stages of signing a major investment pact with Beijing by the end of 2020.The White House on Friday added China’s leading chipmaker SMIC to the list of over 60 Chinese companies barred from doing business in America. The measure is part of an executive order signed by President Donald Trump in November aimed at banning companies tied to China’s military from acquiring U.S. technology. Beijing is "increasingly exploiting United States capital to resource and to enable the development and modernization of its military, intelligence, and other security apparatuses," the executive order said. The order, set to come into effect in early January, targets Chinese companies that pose a threat to U.S. national security. China is pursuing a strategy of "Military-Civil Fusion," the White House believes. The communist regime is boosting "the size of the country’s military-industrial complex by compelling civilian Chinese companies to support its military and intelligence activities," the executive order added. "The United States will use all countermeasures available, including actions to prevent (Chinese) companies and institutions from exploiting U.S. goods and technologies for malign purposes," Secretary of State Mike Pompeo said in a statement on Friday. Posted by: Besoeker 2020-12-21 |
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