Beijing would likely take offense at any such limits, which will serve as the first real test of the new communication channels that the two greatest economies in the world are attempting to reestablish.
As the White House moves forward with plans to impose new restrictions on American investments in Chinese firms engaged in quantum computing, artificial intelligence, and semiconductors, efforts to defuse tensions between the United States and China through a series of diplomatic visits to Beijing could be undermined.
During her four-day visit to China, which ended on Sunday, Treasury Secretary Janet L. Yellen had numerous conversations with senior Chinese officials about the impending restrictions.
The Treasury Department has worked to focus the limits’ area of application, which only apply to a small number of extremely strategic industries and target private equity and venture capital investment.
The agency has also attempted to allay Chinese suspicions that the regulations amount to a technology blockade meant to hurt the Chinese economy.
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China’s Diplomatic Outreach At Risk
Even so, any such steps are certain to enrage China and will serve as the first real test of the new lines of communication that the two biggest economies in the world are attempting to reestablish.
The latest deterioration in US-Chinese relations has brought them to an all-time low. Tensions have risen in relation to China’s persistent threat to Taiwan, the launch of a Chinese surveillance balloon over the United States, stricter technology restrictions from Washington, Beijing’s alliance with Moscow during the conflict in Ukraine, and Beijing’s relationship with Beijing.
The Biden administration has been attempting to prevent a further deterioration in the relationship in recent months because it regards this as a potential danger to peace and stability on a global scale.
Along with Ms. Yellen, Antony J. Blinken, the secretary of state, and John Kerry, the president’s special envoy for climate change, have both visited Beijing recently. Ms. Yellen is not the only one; on Sunday, Mr. Kerry will do the same.
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Source: www.nytimes.com