Biden Issues an Executive Order Restricting US Investments In Chinese Technology (apnews.com) 59
An anonymous reader quotes a report from the Associated Press: President Joe Biden signed an executive order Wednesday to block and regulate high-tech U.S.-based investments going toward China -- a move the administration said was targeted but it also reflected an intensifying competition between the world's two biggest powers. The order covers advanced computer chips, micro electronics, quantum information technologies and artificial intelligence. Senior administration officials said that the effort stemmed from national security goals rather than economic interests, and that the categories it covered were intentionally narrow in scope. The order seeks to blunt China's ability to use U.S. investments in its technology companies to upgrade its military while also preserving broader levels of trade that are vital for both nations' economies.
The officials previewing the order said that China has exploited U.S. investments to support the development of weapons and modernize its military. The new limits were tailored not to disrupt China's economy, but they would complement the export controls on advanced computer chips from last year that led to pushback by Chinese officials. The Treasury Department, which would monitor the investments, will announce a proposed rulemaking with definitions that would conform to the presidential order and go through a public comment process. The goals of the order would be to have investors notify the U.S. government about certain types of transactions with China as well as to place prohibitions on some investments. Officials said the order is focused on areas such as private equity, venture capital and joint partnerships in which the investments could possibly give countries of concern such as China additional knowledge and military capabilities. The Chinese Ministry of Commerce responded in a statement early Thursday that it has "serious concern" about the order and "reserves the right to take measures."
"We hope the U.S. side respects the laws of the market economy and the principle of fair competition, does not artificially obstruct global economic and trade exchanges and cooperation and does not put up obstacles for the recovery and growth of the world economy."
The Chinese Ministry of Commerce also said the executive order "seriously deviates from the market economy and fair competition principles the United States has always advocated. It affects the normal business decisions of enterprises, disrupts the international economic and trade order and seriously disrupts the security of global industrial and supply chains."
The officials previewing the order said that China has exploited U.S. investments to support the development of weapons and modernize its military. The new limits were tailored not to disrupt China's economy, but they would complement the export controls on advanced computer chips from last year that led to pushback by Chinese officials. The Treasury Department, which would monitor the investments, will announce a proposed rulemaking with definitions that would conform to the presidential order and go through a public comment process. The goals of the order would be to have investors notify the U.S. government about certain types of transactions with China as well as to place prohibitions on some investments. Officials said the order is focused on areas such as private equity, venture capital and joint partnerships in which the investments could possibly give countries of concern such as China additional knowledge and military capabilities. The Chinese Ministry of Commerce responded in a statement early Thursday that it has "serious concern" about the order and "reserves the right to take measures."
"We hope the U.S. side respects the laws of the market economy and the principle of fair competition, does not artificially obstruct global economic and trade exchanges and cooperation and does not put up obstacles for the recovery and growth of the world economy."
The Chinese Ministry of Commerce also said the executive order "seriously deviates from the market economy and fair competition principles the United States has always advocated. It affects the normal business decisions of enterprises, disrupts the international economic and trade order and seriously disrupts the security of global industrial and supply chains."
Eagerly awaiting ... (Score:4, Funny)
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I'm waiting to see if the CCP or the MAGA crowd says it first.
Re:Eagerly awaiting ... (Score:5, Interesting)
Eagerly awaiting ... for how the CCP is right and Biden is bad and communist/socialist.
I'm waiting to see if the CCP or the MAGA crowd says it first.
What I find amusing about all of this is that the Trump administration picked harebrained crap like Huawei equipment beaming every bit of data on the US internet back to CCP HQ, which, so far, nobody has been able to prove or the equally unproven accusation that China engineered the COVID virus and released it to somehow attack Trump's presidency when there are (and have been for decades) so many easily verifiable problems with China's behaviour as an international actor. If the Biden administration is going to retaliate for China's provable shenanigans by limiting China's access to western markets then they can legitimately do that without inventing asinine conspiracy theories. Between state sponsored dumping on world markets, government sponsored wholesale IP theft, the way foreign companies are not treated under Chinese law the way Chinese companies are treated in the west and the fact that Chinese companies can effectively get away with murder in Chinese courts ... the list goes on ... there are plenty of irrefutable fact based reasons staring us in the face over which to play hard-ball with China without anybody having to resorting to making use of the fertile imaginations of Q-Anon and the MAGA crowd.
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Also, I wonder if they have found all of the Chinese police stations on US grounds yet....?
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I don't know but we NEED to make an example of those Chinese agents. They should be executed as spies.
The CCP needs to be sent a message this stuff isnt going to be tolerated and some public hangings would do that.
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The CCP needs to be sent a message this stuff isnt going to be tolerated and some public hangings would do that.
Because if there is one thing Xi Jinping concerns himself with, it's the physical well-being of his people.
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I'll happily shit on Trump, the GQP, Q-anon, MAGA, the right wing media, etc for their constant failures and lies. I'll also give Trump credit for doing good when credit is due, and I thin
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Except Huawei [wired.co.uk] has a history of shenanigans. Never mind the fact that all Chinese companies are just organs of the CCP, they are all foreign agents waiting to happen. Why wait for the CCP to pull the trigger? Why accept that risk? Removing unacceptable risks to critical infrastructure is just unwise for any country to do.
I'll happily shit on Trump, the GQP, Q-anon, MAGA, the right wing media, etc for their constant failures and lies. I'll also give Trump credit for doing good when credit is due, and I think on things like Huawei credit is due. As opposed to getting paid by the CCP [forbes.com], which is just more failure and lies on the pile.
And Google, Twitter, Facebook, GM, Monsanto, ... , etc. are also getting to shenanigans, and, according to the Q-Anon/MAGA community they are all organs of the 'deep-state'. Huawei is nothing more than just another greedy corporation in a very long list of greedy corporations getting up to Shenannigans, **GHASP**, Greedy corporations getting up to shenanigans! NEWS AT 11!!!. The US right wing's Captain Ahab like obsession with Huawei is a waste of time. I don't give a flying fart about Huawei for the simpl
Re:Eagerly awaiting ... (Score:5, Interesting)
Why do you think Ivanka received her Chinese patents [forbes.com] so quickly?
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What I find amusing about all of this is that the Trump administration picked harebrained crap like Huawei equipment beaming every bit of data on the US internet back to CCP HQ,
Why do you think Ivanka received her Chinese patents [forbes.com] so quickly?
You don't need an international spy ring to know that is how cheaply Trump could be bought. I mean a decoder ring and 2 brain cells should be able to tell you that.
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You should already know the answer. In any event, Executive Orders only legally apply to the Executive branch of the U.S. government and nothing else..
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I am surprised they bothered. The CCP has come down on business in this area so hard that it is ending growth in China.
Funny how this works domestically (Score:5, Insightful)
It's amazing, as someone with an attention span that goes well beyond one election cycle, watch all of the NPCs who cried "trade war/protectionism/capitalism" at Trump turn on a dime and accept it and even embrace it now that Biden is the one doing it (and much harder than Trump did).
Can't say I'm surprised because the same sort of people were shrieking "Chimpy McBushitler warmonger" at Bush and then supported virtually every single act of naked aggression by Obama and then called Trump a wimp for being a diplomacy-first President.
Having a long term attention span in American politics is enough to destroy any belief that even most "educated Americans" are morally fit to participate since so many are flaming hypocrites who have no principles except "my team rules, your team droolz"
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a lot of words, and yet not a single one in service of an argument to support that this is economic policy in disguise
but sure, you're the smart one
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@deplorableCodeMonkey's point wasn't about the actual article, it was a sound and 100% valid observation on how both parties hold double-standards.
Doesn't matter which side you're on. If the other team does it, lamblast them. if your team does it, then keep quite and mind yourself, if not defer and distract.
Oh hey, that's what you just did (defer/distract).
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The same criticism applies to both Biden and Trump. Trade wars of this nature are rarely effective or beneficial for the country that starts them. They only tend to work when there is a massive economic power imbalance between the two countries, and that's not the case here. China is the world's second largest economy, with the highest growth of all the major ones, year after year.
The way to win is to compete, and to set the bar for things like regulation of AI and data privacy. People criticise the EU's se
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The way to win is to compete, and to set the bar for things like regulation of AI and data privacy. People criticise the EU's seemingly heavy handed regulation
The EU's AI regulations amount to a pointless duplicative compliance racket. Every domain explicitly enumerated in "AI" regulation already has requirements and policies to deal with the issues raised in the AI regulation. The "AI" regulation applies to algorithms generally like conditional tests, feedback loops, decision trees. The only thing this will actually do is fuck over EU members from effectively competing with the rest of the world.
As for data privacy now we are treated to a smattering of worthl
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The old rules covered algorithms. AI is different because nobody knows how it makes decisions. It's a black box, and we can make inferences about it from experimentation and by looking at the training data, but you can't ask an AI why it thinks that shadow on your x-ray is benign, or who you were declined for a loan.
Companies in other countries wanting to operate in the EU will have to adopt those rules. Export of EU data will require adoption of similar protections too, like we just say with the transatlan
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The old rules covered algorithms. AI is different because nobody knows how it makes decisions. It's a black box, and we can make inferences about it from experimentation and by looking at the training data, but you can't ask an AI why it thinks that shadow on your x-ray is benign, or who you were declined for a loan.
You are just spouting summaries of what you've read in the popular press. Read the text of the actual legislation. "AI" is not defined as any specific subset of technology. It covers algorithms generally as I stated before. There is no definition of "AI" limited to non-explainable bags of artificial neurons or any such systems.
All of the covered domains already have requirements covering methodologies, testing, reliability and permissible operation. Nothing changes. You couldn't use "AI" excuse to get
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Indeed about the only group that - because they don't really have 'a side' but fall in with one or the other at various times and the populist/nationalist movement.
They get lambasted by both wings of American politics, which makes sense because they are actually the only realistic alternative.
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Let's break this down.
1. Trump started a trade war which impacted American farmers with their tariffs. His approach was reckless and ill thought out but another variable was the President of the Philippines was favorable to China as opposed to the U.S. This strengthened China's position. Trump's approach had no thought on how to get out of the scenario unscathed, more of act first and deal with the consequences later.
2. Biden's approach started with the IRA and the CHIPS act which kick started investmen
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Re:Funny how this works domestically (Score:5, Insightful)
What would your reaction be to somebody that literally hates both 'teams' playing on the US political theater stage right now?
Clinton sucked, but not as much as his interns apparently. And he did manage to mostly balance the budget, which is more than you can say for most of the morons at the top. Not that I liked the guy or was even much of a cheerleader for him. But it's the last time I remember not feeling like puking every time I heard about our president.
Bush Junior was a self-professed moron because, "You could hang out and party with him" was selling well for him. His policies (Cheney's, let's be real) were abhorrent bullshit. He told people he wanted to attack Iraq the second he took office. He found his excuse. He either helped trump up bullshit to support his desire, or somebody else handed him his trumped up bullshit on a silver platter. I never, not once, supported that war. At the time I was called a traitor for saying it was bullshit by anyone that was interested in my opinion on it. I've never asked for an apology from anyone that's changed their opinion over time. It happened, the masses fell for the smoke and mirrors, and those of us with a different opinion were shoved aside "for the greater good." I remember when we questioned it at a family gathering our father in law, now a massive Trump supporter, asked us, "What kind of nonsense bullshit are you seeking out to form that opinion?" Whatever.
Obama? I admit, I had a brief moment of hope that he really believed in his promised change. Then he took office and almost immediately about-faced, and started essentially taking Bush's idiocy and doubling down on it. Though with a hint of nuance. He kept none of his promises except overhauling healthcare. And rather than making healthcare more affordable, as the act was supposed to do, it priced out most of us middle-class assholes that were stupid enough to vote for him. By the time he came in for his second term, it was more of a, "I'll hold my nose and vote for him because the other guy looks likely to start as many wars as he possibly can and I'm sick of fucking war for no reason." He was just another politician by this point, but at least a politician that could speak like a human being from time to time. And don't bother pointing out the constant war-like efforts he tried to keep out of the public eye as much as possible. I'm shocked the media let him slide on most of that shit. You'd hear about it, but there was very little uproar. Mostly it was praise or just reporting on it. I won't bother going into details about how much I hated his surveillance ramp-up either. You never heard much about that, did you?
I stopped voting for the next cycle because I had had my spirit broken by the political process. Anybody looking at the shit-show that was the Hillary Clinton campaign and seeing anything other than a person who was so self-obsessed they literally said it was their turn, without irony, as if it was just a given that the presidency should be handed to her, had to have been deluded beyond belief. But seeing Trump as the alternative? It shouldn't have been him. The fact that he won was nobody's fault but the Democrats. They literally did everything they possibly could to hand the victory to him, and he barely managed to squeak his way in. Then he used the bully pulpit to be the bully we all knew he was. Attacking veterans. Making fun of differently abled folks. Cozying up to our biggest enemies. Pissing off our greatest allies. Shitting the potential of our country down the drain for possibly generations to come. And we still, to this day, have dumb fucks claiming he's the greatest president we ever had simply because "he knew how ta own dem libtards." SMH.
I voted in 2020, and god damn did I have to hold my nose to do so. Biden's only qualifications over Trump are:
A) He can interact with other humans as if he were human himself.
B) He is perfectly capable of asking an expert for advice and actually listening to that advice.
C) He can read.
The only thin
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Good lord I ain't reading all that.
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Clinton - did not balance the budget he made it look sorta okay with lots of creative accounting and very rosy assumptions and he only achieved that by mostly NOT being an obstacle to Newt Gingrich.
Bush Jr. Is the great sin of the GOP in recent years and if you really want to understand how Trump got to be the nominee there are two reasons 1) the DNC wanted that, because they thought he'd be a weak candidate, which while was probably true they could simply selected anyone NOT Hillary and won easily, but they chose to try and sabotage the GOP rather than manage their own affairs in selecting a good candidate. 2) A lot of GOPers are populists and Trump did speak to them, we did not much care for Bush and the establishment and we WANTED a new head of our party from the outside. A lot of felt at the time and still feel today that we needed to retaliate for 9/11 and we needed to put OBL 6ft under but we certainly did not need try and democratize the middle east or whatever. 3) A lot of GOPers were really tired of being picked on and made fun of the media - "W" the movie, etc and we WANTED a bully. We still do! The badly needed bullying because they needed to learn a less, Trump's problem is he isnt actually that good at it. The left has not learned they are still bullying conservatives at any opportunity they get. So I am still of the mind they need more of their own medicine.
Personally I think we should send a bunch of special forces over their to find Al-Qaeda affiliated persons and take them out. Kinda like the Mossad hunting Nazis thru the 1970s. We should told the locals governments to keep clear 'or else' and left it at that. It would sent the message that terrorism against the USA is quick way to get your little fifedom obliterated by the worlds largest armed forces and won't accomplish much else. I am sure it would not cost nearly as much either.
Biden didn't help us face COVID better than Trump. Nope Trump's warpseed operation gave Biden the ONLY faulty tools he did have and beyond that all he did was give stuff away. Which the middle class is PAYing dearly for now. We would have been a 100X better off ridding out COVID under Trump! and 1000X under someone actually competent.
You're entire response could be boiled down to "GO TEAM RED!" Both parties are shit. Anybody seeing it as two teams and cheering for one over the other is part of the problem, not part of the solution.
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How you took go team red from that ...
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I deeply regret that we sacrificed the Superconducting Supercollider on that Budgetary altar. In hindsight, it was silly to cede generations of high-energy physics research to CERN for the cost of a few months of foreverwar.
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Contradiction and hypocrisy are always present to the simpleton.
Re:Funny how this works domestically (Score:5, Insightful)
Can't say I'm surprised because the same sort of people were shrieking "Chimpy McBushitler warmonger" at Bush and then supported virtually every single act of naked aggression by Obama and then called Trump a wimp for being a diplomacy-first President.
The handy thing about defining a group and then attacking that group, is (1) your conclusions are guaranteed to support your prejudices, by definition; (2) you don't need to do any work to assemble data or look for evidence because your position is true by definition, rather than being falsifiable.
Here's a start. How about you define precisely the group you're attacking ("the same sort of people"), with a precise enough definition that it will indeed satisfy the claims you make about this group, and then you gather data on how numerous that group actually is?
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destroy any belief that even most "educated Americans" are morally fit to participate since so many are flaming hypocrites who have no principles except "my team rules, your team droolz"
I should say, I certainly agree that I notice such flaming hypocrites. However I don't have data as to whether they comprise the majority of "educated Americans", and I'm conscious that selection bias would make any attempt on my part useless to guess their prevalence.
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who would do that? (Score:1)
Re: who would do that? (Score:2)
Guess what? It's all manipulated bullshit here too. That's how black rock etc al can even exist.
Hypocrisy (Score:5, Insightful)
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Re:Hypocrisy (Score:5, Funny)
Russia (Score:2)
Biden Fatwa (Score:2)
Under what statute, if any, is this rule being promulgated? I happen to think it's a good idea, but I don't see that Biden has the authority to do this on his own. He can tell me where I can invest my money? The press seems to think that Biden is the Grand Mullah who can issue whatever fatwa he likes.
National Security (Score:1)
It'll be interesting to see whether this pushes more in-US tech manufacturing. Tons of classified stuff gets processed on Dells and other common brands of computer, and right now almost anything smaller than a rackmount server is being manufactured outside the US, mostly in China.
Waint, wasn't Trump a racist and imperialist (Score:1)
Won't work (Score:2)
- strong dollar (comparatively)
- weak purchasing power of the dollar in America (inflation)
- decreasing quality of American goods (I blame unions that protect poor workers)
- increasing quality of Chinese products
- increasing language and business literacy in China
- increased brand establishment and name reputation focus in China
- Horrible American logistics (extremely expensive, often 50-100 times the cost of China)
Everyone I talk with is buying much more Chinese and far less Amer
Ah, central planning (Score:2)
Jim Rogers (Score:2)
"Those who can not adjust to change will be swept aside by it. Those who recognize change and react accordingly will benefit" --Jim Rogers (b. 1942)