Biden Extends Trump-Era Emergency Ban
(WatchDogReport.org) – Former President Donald Trump saw a threat to American interests and security from the People’s Republic of China (PRC), which was using pseudo-civilian corporations to raise money for its military and intelligence operations. President Joe Biden apparently sees the wisdom of this and, as such, has now expanded or extended bans his predecessor put in place.
In continuing the previous administration’s investment ban on China, the US is repeating its mistake. China firmly rejects it. pic.twitter.com/KGznMX9F1D
— Zhang Heqing张和清 (@zhang_heqing) November 9, 2022
Trump implemented Executive Order 13959, noting the PRC uses a “Military-Civil Fusion” that forces what are surface-level private companies to help it expand and improve the war-fighting abilities of President Xi Jinping’s government. Because these entities are traded on public platforms such as the New York Stock Exchange and Great Britain’s London version of it, American investors are providing the Chinese with capital that creates “an unusual and extraordinary threat” to the security of the country.
Biden’s new extension also notes the monies gathered by the PRC allow it to develop surveillance technologies that “facilitate repression or serious human rights abuses.” This announcement comes on the eve of the first face-to-face meeting between Biden and Xi expected to take place during the 17th G20 Summit, which will be held in Bali, Indonesia, November 14-17.
An article in the Chinese Communist Party (CCP) affiliated news site Global Times slammed the addition of more companies to what they call a “blacklist.” They portray the bans as nothing more than an American ploy to smother their progress.
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