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The Biden administration is reinforcing guardrails with China, trying to revive high-level communication channels and disaster administration mechanisms.
Washington and Beijing aren’t on good phrases. The U.S. is on excessive alert, hoping to counter the Chinese language authorities’s coercive efforts to mission its financial statecraft by introducing new export controls on semiconductors and associated high-end applied sciences, enacting the CHIPS and Sciences Act aimed toward boosting home analysis and manufacturing of semiconductors and leveraging its community of allies and companions to diversify provide chains.
Earlier this month, U.S. President Joe Biden issued an govt order to determine an outbound funding vetting framework that can restrict U.S. capital flows that facilitate China’s technological developments and navy modernization in three cutting-edge sectors: semiconductors, quantum computing and synthetic intelligence. All of this tells of a fraying of the connection between the world’s two largest economies, one that might undermine world development.
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