Trump is preventing Americans from investing in Chinese companies linked to the military
Trump's move was met with strong condemnation from China.
Reuters
The outgoing US President Donald Trump decided to prevent Americans from investing in Chinese groups that the US administration accuses of supporting Beijing's military activities, in a move strongly condemned by China yesterday.
Trump said in a decree, the day before yesterday, that this ban will be implemented from January 11, nine days before his departure from the White House and the arrival of his predecessor, Joe Biden.
Americans with contributions or other financial interests in groups on a list of 31 companies are given until November 2021 to cede them.
In response to this action, China accused Washington of "using state power to attack Chinese companies arbitrarily."
"This measure not only harms the legitimate rights and interests of Chinese companies, but also the interests of American investors," Chinese Foreign Ministry spokesman Wang Weinpin told reporters.
Trump's decree is part of his administration's campaign to limit the rise of China, which is determined to compete with Washington on the international stage, in almost every field from the economy to the military sector, passing through politics and technology.
Under the slogan "America first", Trump portrayed China as the biggest threat to the United States and to global democracy, waging a trade war against it, pursuing Chinese technology companies, and holding Beijing responsible for the spread of the Corona virus.
In this decree, Trump asserts that China “is increasingly using US capital to allow the development and modernization of its military activities, its intelligence apparatus and other security systems, which allows it to directly threaten the United States and US forces abroad.”
Trump said US personnel money invested in those companies was allowing Beijing to develop weapons of mass destruction and carry out cyberattacks "against the United States and its people."
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