White House expected to blacklist 35 entities as “Communist Chinese Military Companies”
As President Donald Trump’s first term comes to a close, his administration is stepping up pressure on the China’s Military establishment. The White House has added four more China-based companies to the list of “Communist Chinese military companies,” making them off-bounds for American investors and financial institutions.
President Trump issued an executive order on November 12 banning investment in firms controlled by China’s military establishment. The order set to come into effect in early January will target around 35 companies identified as entities run by the Chinese military. Communist China is “increasingly exploiting United States capital to resource and to enable the development and modernization of its military, intelligence, and other security apparatuses,” the order added.
The Chinese military establishment is increasingly using private companies as fronts for acquiring critical Western technology and accessing global financial capital, the Trump administration believes. “Through the national strategy of Military-Civil Fusion, the PRC increases the size of the country’s military-industrial complex by compelling civilian Chinese companies to support its military and intelligence activities,” the executive order explained.
The news agency Reuters on Friday reported further measures taken by the White House against Chinese military companies:
This article was sourced from LegalInsurrection
