US President Joe Biden signs executive order banning US investment in key technology industries

US President Joe Biden has signed an executive order restricting US investment in key technology industries that enhance China’s military capabilities. President Biden announced a national emergency resolution to address the growing threat of countries with military, intelligence, surveillance, and cyber-based capabilities related to risky products and sensitive technology. The order would ban venture capital and private equity firms from investing money in Chinese enterprises making semiconductor and other microelectronics, quantum computers and artificial intelligence applications. Administration officials said that this decision has been taken keeping in mind the national security.