China warns of supply chain disruptions if the US Congress passes a bill restricting American technology investments in China. The bill targets national security concerns and includes a study on vulnerabilities in US networking devices.
China on Wednesday warned of disrupted supply chains ahead of Congress's vote on a bill that would impose further limits on American technology investments in China on national security grounds.Additionally, the legislation calls for a government study of vulnerabilities in U.S.-based modems and routers, after a wave of cyberattacks against networking devices carried out by hackers believed to have Chinese state ties.
The bill also calls for a review of Chinese property purchases near sensitive sites such as military bases.This comes amid escalating U.S.-China trade tensions and tit-for-tat export restrictions. The U.S. continues to tighten controls on technologies, such as advanced semiconductors and chipmaking equipment, that could support Chinese missiles and other weaponry. China has retaliated by banning the export of strategically important metalloids like germanium.During the Chinese Foreign Ministry's regular press conference on Wednesday, spokesperson Lin Jian emphasized the mutual benefits of U.S.-China trade cooperation. 'To overstretch the concept of national security and deliberately obstruct normal economic and trade exchange for political agenda contravenes the principles of market economy, fair competition and free trade, which the U.S. claims to champion,' he stated.Lin warned that such measures would 'destabilize global industrial and supply chains' and called on U.S. lawmakers to 'stop politicizing and weaponizing economic and trade issues.' 'China is an economic adversary, and we must take bold action to safeguard our future against the Chinese Communist Party,' Reuters quoted Pennsylvania Democrat Sen. Bob Casey as saying.However, some analysts argue that blocking China from technologies such as the chipmaking tools produced by the Netherlands' ASML will hurt Western manufacturers now and in the long term.'China will build their own equipment industry as a result.
CHINA US TECHNOLOGY TRADE SECURITY
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