Prevent capital from some investing in high tech sector investing in high tech sector in china such as Quantum Computing, Artificial Intelligence and advanced semiconductors. The goal is to stop the speed up of technology that could help china develop weapons for use against america in a military context. We put also require firms to make arrangements to report activities. Potentially laying the ground for more restrictions down the road. The regulations are not expected to take effect right away and there will be a period so businesses can weigh in on the proposal. China is the worlds second biggest economy, a vital market for American Companies and the concern expressed by some us executives may explain why this order has not been released until now even though expected back in february. A senior official described the move as targeted saying this is our National Security action not an economic one and adding the us is not decoupling our economy. The move is likely to upset beijing w
Beijing has reacted angrily saying it s gravely concerned about the order. A spokesman for the Chinese Embassy in washington said the curbs seriously undermine the interests of chinese and American Companies and investors. But republicans have said the restrictions don t go far enough. From new york, Michelle Fleury has more. This is a new front in the tech war between two global superpowers. The restrictions prevent American Private equity and Venture Capital firms from investing in high tech sectors in china such as quantum computing, Artificial Intelligence and advanced semiconductors. The goal is to stop us capital and know how from speeding up the development of technologies that could help china develop weapons for use against america in a military conflict. It would also require firms making investments in a broader range of sensitive Chinese Industries to report that activity. Potentially laying the ground for more restrictions on investments down the road. The regulations aren
A long way off. As i travelled across the Island Nation from the coastal Fishing Towns to vibrant tourist hubs and central farmlands, i saw how the harsh economic realities have forced sri lankans to make tough choices. These are their stories. You like going to the sea . Yes, i like this. First, the shortages and then, a cut in the Government Subsidy has meant fuel is three times more expensive than last year, raising the risks forfishermen. Theres no guarantee they can cover expenses on every fishing trip. More than 250km south on the islands coast in arugam bay, The Tide Is Turning for some. Tourism is riding the first waves of recovery. In this town on the eastern coast of sri lanka, the peak of the economic crisis coincided with their main tourist season, hitting local businesses hard, and this Surfing Destination is still picking up the pieces. I started surf school a long time ago, so therefore, i had some savings, so, i put my whole savings to i had a dream that i want to set u
More than 50 people have been detained in pakistan for protesting against ex Prime Minister imran khans three Year Prison Sentence for corruption. Now on bbc News Sri Lanka aftermath of a crisis. On the surface, it seems calm has returned to sri lanka. This Seaside Expanse in colombo that was the site for months long protest is now bustling with locals and tourists enjoying a day out. Long queues have gone, food and medicine shortages have eased, and the government is making tough choices to get the economy back on track. But the Real Recovery in the lives of average sri lankans is still a long way off. As i travelled across the Island Nation from the coastal Fishing Towns to vibrant tourist hubs and central farmlands, i saw how the harsh economic realities have forced sri lankans to make tough choices. These are their stories. You like going to the sea . Yes, i like this. First the shortages and then a cut in the Government Subsidy has meant fuel is three times more expensive than las
As it could have been, certainly not as restrictive as the rumours suggested it would be when the Administration First announced announced it was considering Something Like this. You know, it really only targets new investments into chinese firms, and only chinese firms that derive more than 50 of their revenue from sensitive sectors like ai, quantum computing, and advanced semiconductors. And that is far more narrow than we couldve seen because last october, the administration talked about a broader range of industries that were National Security sensitive and would require either Export Controls or some sort of investment restriction, or both. As michelle mentioned, businesses get a say in this what kind of reaction are you expecting from American Companies . Well, American Companies that have been investing in these will not like this and will push back, and try to seek implementation that is as narrow as possible. Itll be a back and forth conversation, im sure, and ultimately the a