On Thursday, President Joe Biden signed an order that aims to stop China from investing in the technology sector of the USA. in addition to this, Biden has also decided to give minimum access to the citizens to avoid any sort of tension with Beijing.
The new order that was signed by Biden was to focus on all the actions that will be taken by the secret Committee on foreign investments in the USA. These actions were prepared by Congress time back. For a long period of time, the powers were only enjoyed by some people. This was done to avoid blocking the foreign acquisition of various firms in America.
The working group is instructed to determine how a potential agreement tends to involve the acquisition of a corporation that has direct exposure to Americans’ critical material and if an international business or government could utilize that information. This represents the most extensive part of Mr. Biden’s new order, and it may also be the greatest significant component in the months from now.
That phrase underscores the rising concern Americans have regarding China’s capacity to acquire the private data they provide to phone applications and other businesses. The hilarious photo app TikTok, which is controlled by China and about which detractors are concerned that the Chinese government may obtain user information, is reportedly already subject to the scrutiny of the CFIUS committee.
The Biden government hasn’t stated anything up to this point regarding its examination of TikTok. A rushed attempt was made in the closing stages of the Trump presidency to push TikTok’s American businesses to be sold to a group of American as well as other Western firms, but it failed.
Furthermore, the agreement did not address the bigger issue in the escalating technological conflict between both Washington and Beijing: how should the United States handle the international mobile applications that have been increasingly being integrated into the everyday activities of the American internet world and appearing on the displays of Americans’ mobile phones?