{"id":101282,"date":"2020-11-13T14:50:54","date_gmt":"2020-11-13T06:50:54","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=101282"},"modified":"2020-11-13T14:50:56","modified_gmt":"2020-11-13T06:50:56","slug":"us-pres-trump-bans-investment-in-firms-that-aid-chinas-military","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=101282","title":{"rendered":"US: Pres Trump bans investment in firms that aid China\u2019s military"},"content":{"rendered":"\n
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WASHINGTON, Nov 13 (NNN-AGENCIES) — US President Donald Trump has signed an executive order banning Americans from investing in Chinese firms that are deemed to be supplying or supporting Beijing\u2019s military and security apparatus.<\/p>\n\n\n\n

The order listed 31 companies it said China was using for the \u201cincreasing exploitation\u201d of US investment capital to fund military and intelligence services, including the development and deployment of weapons of mass destruction.<\/p>\n\n\n\n

US-China relations have deteriorated sharply during Trump\u2019s presidency, and this was the latest in a series of executive orders and regulatory actions that have targeted China\u2019s economic and military expansion.<\/p>\n\n\n\n

Under his \u201cAmerica First\u201d banner, Trump has portrayed China as the greatest threat to the United States and global democracy, pursued a trade war with it, harangued Chinese tech firms, and laid all the blame for the coronavirus pandemic at Beijing\u2019s door.<\/p>\n\n\n\n

Thursday\u2019s order prohibits US companies and individuals owning shares in any of the listed companies, which include major telecommunications, construction and technology firms such as China Mobile, China Telecom, video surveillance firm Hikvision, and China Railway Construction Corp.<\/p>\n\n\n\n

Current investors will have a year to divest from the Beijing-linked companies, according to the order.<\/p>\n\n\n\n

News of the move, which will come into effect on Jan 11, reverberated on the stock market in Hong Kong Friday.<\/p>\n\n\n\n

Shares in state-owned China Telecom dropped more than nine percent, China Mobile fell six percent and China Railway Construction Corp lost more than five percent.<\/p>\n\n\n\n

National Security Advisor Robert O\u2019Brien said the order will prevent Americans from unknowingly providing passive capital to Chinese companies \u2014 listed on exchanges around the world \u2014 that support the improvement of Beijing\u2019s army and spy agencies.<\/p>\n\n\n\n

He said the companies included on the list \u201croutinely target American citizens and businesses through cyber operations,\u201d as well as its economy and military.<\/p>\n\n\n\n

O\u2019Brien also lashed out at Beijing over its removal of four pro-democracy lawmakers in Hong Kong this week, calling the city\u2019s one country, two systems governance a \u201cfig-leaf\u201d masking China\u2019s increasingly authoritarian grip on the financial hub.<\/p>\n\n\n\n

Since media called the presidential race six days ago, Trump has not conceded to President-elect Joe Biden, as is traditional once a winner is projected.<\/p>\n\n\n\n

With Covid-19 cases shattering records across the country and states imposing new restrictions in a push to contain, Trump seems to have all but shelved normal presidential duties, leaving his final policy moves on China increasingly unpredictable.<\/p>\n\n\n\n

Despite the administration\u2019s tough words on China, analysts expect Biden to renew American leadership on human rights, and to more tightly squeeze Beijing on trade and security than his predecessor.<\/p>\n\n\n\n

Nearly a week after the election was called for Biden, Beijing still has not called to congratulate him.<\/p>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON, Nov 13 (NNN-AGENCIES) — US President Donald Trump has signed an executive order banning Americans from investing in Chinese firms that are deemed to be supplying or supporting Beijing\u2019s military and security apparatus. The order listed 31 companies it said China was using for the \u201cincreasing exploitation\u201d of US investment capital to fund military […]<\/p>\n","protected":false},"author":11,"featured_media":101283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[208,215],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/101282"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=101282"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/101282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/101283"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=101282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=101282"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=101282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}