(USNewsMag.com) – Former President Donald Trump took a hardline stance against China. His administration implemented an executive order blocking investors from purchasing shares of Chinese companies that the Chinese military owns or controls. President Joe Biden is continuing that policy.
On November 9, Biden sent a letter to Speaker of the House Nancy Pelosi (D-CA) informing her that he directed his administration to send Trump’s Executive Order 13959 to the Federal Register for publication. The letter states that the People’s Republic of China (PRC) is “exploiting United States capital to resource and to enable” the rapid development of its “military intelligence.” The president also claimed the country continues to threaten the US.
The United States is continuing an order banning American investors from financing companies linked to the Chinese military, President Biden announced. https://t.co/axsVg6ZDq9
— Newsmax (@newsmax) November 10, 2021
Americans are not permitted to invest in various companies, including ZTE, Hikvision, Huawei and 56 others. According to a report by the Epoch Times, China is leveraging its companies in order to advance its military under a strategy known as “civil-military fusion.”
The threat of the Chinese military has been more pronounced than ever lately. Over the summer, the country shocked US intel when it allegedly launched a nuclear-capable hypersonic weapon. The communist nation is also increasing its nuclear warhead stockpile and Navy. Fortunately, it looks like the Biden administration is finally taking notice of the problem.
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