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China slams Biden’s order limiting U.S. overseas tech investment



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An editorial photo art illustrating smart city communication networks against the urban landscape in Shanghai.Dong Wenjie | Moment | Getty ImagesChina criticized President Joe Biden’s long-awaited executive order regulating fresh U.S. investment in technology — but stopped short of issuing immediate counter measures.The Chinese Commerce Ministry issued a strong response early Thursday in Asia, hours after Biden signed off on the measure targeting “countries of concern” on the basis of national security.”China expresses its grave concern and reserves the right to implement measures,” the Chinese Commerce Ministry said in the statement, according to a CNBC translation.Biden’s order comes amid an escalating race for global technology supremacy. Rather than an outright ban, the measures are aimed at limiting U.S. investment and expertise in semiconductors and microelectronics, quantum computing and certain artificial intelligence capabilities in China, Hong Kong and Macao. “This seriously deviates from the market economy and fair competition principles that the U.S. has always advocated,” …

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