President Biden's executive order regulating U.S. technology investment in China is the first time Washington is imposing restrictions on U.S. capital outflows.
And more could be in store, given the priority on national interest and security.
The U.S. Treasury Department is still in the process of firming up specific details before the measure can be fully enforced, maybe sometime next year. As it stands, U.S. firms have generally held back from investing in China in the past few years due to a weakening growth environment and the fraught prevailing geopolitical environment.
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