Biden planning new China crackdown – media ...News

The US president intends to restrict investment in the Asian country’s defense industry, Axios has reported US President Joe Biden is finalizing an executive order to restrict American investment in China’s defense industry, Axios reported on Friday. The move will further ratchet up a campaign that Beijing calls “economic coercion.” The order will be released later this summer, Axios stated, citing anonymous sources. Rumors of an impending order have circulated in the US media since April, but Axios’ sources said that work on the decree was slowed by Washington’s efforts to convince its G7 allies to issue similar

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