Biden Goes On Final Economic Showdown With China

<h4>Biden Goes On Final Economic Showdown With China<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that in wahta appears a final economic showdown with China&comma; President Joe Biden has signed an executive order that will make it illegal for US companies to invest in sectors of the Chinese economy that could have military applications&period;<&sol;p>&NewLine;<p>This includes&colon; quantum computing&comma; artificial intelligence related to defense&comma; and advanced semiconductors&period;<br &sol;>&NewLine;Biden’s new policy is expected to come into effect next year&comma; following rounds of public comment&period;<br &sol;>&NewLine;The Wednesday’s move came after an intense internal debate&comma; and the proposed ban is narrower than some in the administration wanted&period;<&sol;p>&NewLine;<p>Still&comma; the move is bound to escalate tensions with Beijing&comma; and it comes less than two months after Secretary of State Antony Blinken visited China in a bid to improve relations&period;<&sol;p>&NewLine;<p>Now all eyes will turn to US allies&comma; such as Canada and the United Kingdom&comma; to see whether they implement similar policies&period; Ottawa&comma; for one&comma; has often been criticized for being slow to respond to foreign interference by the Chinese government&period;<&sol;p>&NewLine;<p>Meanwhile&comma; a spokesperson for Canadian Innovation Minister&comma; François-Philippe Champagne&comma; said that Canada would consult with the Americans about the implications of the measure but did not say whether Canada would bring in similar rules&period;<&sol;p>&NewLine;<p><a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">It would be recalled that the two great industrialized countries have been in war of economic supremacy in which case the U&period;S&period; economy continues to outstrip China&&num;8217&semi;s by dollar value&period;<&sol;a><&sol;p>&NewLine;<p>In 2022 for instance&comma; Chinese gross domestic product was &dollar;18 trillion&comma; compared with &dollar;25&period;5 trillion for the United States&period; But China&&num;8217&semi;s population is more than four times America&&num;8217&semi;s&period;<&sol;p>&NewLine;