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Biden’s Executive Order to restrict tech investments in China

Published

2 years ago

August 10, 2023

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President Joe Biden signed an executive order on Wednesday that will narrowly limit specific U.S. investments in sensitive technology sectors in China.

The order also mandates the requirement of government notification for funding in other technology domains.

The long-awaited order empowers the U.S. Treasury secretary to restrict or prohibit certain American investments in Chinese entities within three sectors: semiconductors and microelectronics, quantum information technologies, and specific artificial intelligence systems.

In a letter addressed to Congress, Biden stated that he was declaring a national emergency to address the threat of advancements by countries like China “in sensitive technologies and products critical to the military, intelligence, surveillance, or cyber-enabled capabilities.”

Although the order could escalate tensions between the world’s largest economies, U.S. officials emphasized that the restrictions were aimed at mitigating “the most acute” national security risks, without intending to sever the intertwined economies of both nations.

Senate Democratic Leader Chuck Schumer lauded Biden’s directive, asserting that “for too long, American money has helped fuel the Chinese military’s rise. Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement.” He urged Congress to solidify these restrictions through legislation and further refinement.

China’s military

This order primarily intends to prevent U.S. capital and expertise from contributing to the development of technologies that could bolster China’s military modernization efforts and undermine U.S. national security. It primarily focuses on private equity, venture capital, joint ventures, and greenfield investments.

Most investments covered by the order will necessitate government notification, and certain transactions will be outright prohibited. The Treasury Department indicated that it might exempt “certain transactions, including potentially those in publicly-traded instruments and intracompany transfers from U.S. parents to subsidiaries.”

The Chinese Embassy in Washington did not provide an immediate response to requests for comments. However, the embassy had previously stated that the U.S. “habitually politicizes technology and trade issues and uses them as a tool and weapon in the name of national security.”

These regulations will apply only to future investments and will not impact existing ones.

The Biden administration stated that it had engaged with U.S. allies and partners during the development of these restrictions and plans to continue close coordination with them. The executive order reflects discussions held with the Group of Seven countries.

The implementation of the order is anticipated for next year, as informed by an individual familiar with the matter. It will undergo multiple rounds of public comments, including an initial 45-day comment period.

Regulators intend to issue an advance notice of proposed rulemaking to further define the program’s scope and initiate a comment period to gather public feedback before formulating a formal proposal.

Sources previously revealed that the restrictions on semiconductor investments are expected to align with export control rules for China established by the U.S. Department of Commerce in October.

Emily Benson from the Center for Strategic and International Studies (CSIS), a bipartisan policy research organization, speculated that investments in artificial intelligence will likely be prohibited for military purposes, while other investments in the sector will require government notification.

News

Australian beef industry warns of major export losses under new China tariff

Published

2 hours ago

January 1, 2026

Harvey Vargas

China slaps 55% tariff on Australian beef as trade and geopolitical tensions rise

China has imposed a 55% tariff on Australian beef imports that exceed quota limits, a move that threatens more than $1 billion in annual trade and has reignited tensions between Canberra and Beijing. The restrictions, effective from January 1 for three years, cap Australia’s beef quota at 205,000 tonnes—below the volume China imported in 2024—prompting industry claims the decision undermines the spirit of the China-Australia Free Trade Agreement.

Calm fears

Beef producers warn the impact could be severe, with exports to China potentially falling by as much as one-third compared to 2025 levels. Industry groups say the move advantages rival exporters, with Brazil and Argentina receiving far larger quotas, raising concerns Australia could permanently lose market share in a key global market. Prime Minister Anthony Albanese has sought to calm fears, saying Australia is not being singled out and describing the beef sector as the strongest it has ever been.

The tariff decision comes against the backdrop of growing geopolitical strain, days after Australia criticised China’s “Justice Mission 2025” military drills near Taiwan as destabilising. Opposition figures are urging the government to leverage diplomatic ties with President Xi Jinping to ensure Australia is not swept up in broader trade retaliation, as industry calls mount for urgent talks to stabilise relations.

News

Five global escapes executives are booking for 2026

Published

2 days ago

December 31, 2025

Ahron Young

Where to switch off, reset and travel well for a week

For executives in their 40s, travel has shifted. It is less about ticking off sights and more about space, comfort and coming back sharper than when you left.

In 2026, the most appealing one-week holidays are destinations that combine calm, quality and a sense of being ahead of the curve.

For executives, switching off from work is essential, but true rest comes from being gently engaged rather than completely idle.

The most rewarding breaks offer just enough stimulation, culture, nature or conversation, to quiet the mind without replacing one form of busyness with another.

Here are five global locations quietly rising to the top of travel wish lists.

East Coast Barbados

Barbados has long been associated with polished beach holidays, but the east coast offers something different.

Wild Atlantic surf, boutique retreats and fewer crowds create a slower rhythm that suits travellers who want proper rest without sacrificing style.

Days are spent between long coastal walks, ocean-facing spas and unhurried dinners, with just enough local culture to keep things interesting.

Barbados: Book a holiday package (flights + hotel) to Barbados here.

Phu Quoc

Vietnam’s largest island is emerging as a refined alternative to more established Asian beach destinations.

Phu Quoc blends thoughtful luxury with a grounded, local feel. Resorts are discreet rather than flashy, wellness is taken seriously, and the pace encourages doing very little very well.

It is an easy week of warm water swims, exceptional food and genuine mental downtime.

Phu Quoc, Vietnam: Find holiday packages and deals for Phu Quoc here.

Peloponnese

For travellers who want culture without crowds, the Peloponnese is becoming Greece’s most compelling region.

Ancient ruins sit alongside olive groves, quiet beaches and wellness-focused resorts designed for long lunches and early nights.

It offers the Mediterranean experience executives love, without the intensity of Santorini or Mykonos.

Peloponnese, Greece: Browse and book Peloponnese holiday packages with flights and hotels here.

The Red Sea

Saudi Arabia’s Red Sea coast is one of the most ambitious luxury travel projects in the world.

Opening progressively through 2025 and 2026, it promises adults-focused resorts built around sustainability, privacy and high-end wellness.

For those seeking something genuinely new, this is a destination that feels exclusive, restorative and future-facing.

Red Sea Coast (gateway for Red Sea resorts): Book a Red Sea Coast holiday package (flight + hotel) here.

Margaret River

Margaret River continues to refine its appeal for travellers who value space and quality. World-class wineries, dramatic coastline and understated luxury accommodation make it ideal for a reset without jet lag.

It is a reminder that a great week away does not need excess. It needs good food, good wine and room to breathe.

In 2026, the best holidays for executives are not about escape in the dramatic sense. They are about intention. A change of pace, fewer decisions, and environments designed to help you slow down properly. These destinations understand that luxury is not about doing more, but about feeling better when you return.

Margaret River, Western Australia: Find Margaret River holiday packages (accommodation + flight) here.

News

Iran’s currency collapse sparks mass protests as inflation spirals

Iran president engages protesters amid economic crisis as currency tumbles and inflation surges

Published

2 days ago

December 31, 2025

Harvey Vargas

Iran’s president engages protesters amid economic crisis as currency tumbles and inflation surges

In Short:
– Iranian President Pezeshkian urged action to meet protesters’ demands amid economic crisis and currency devaluation.
– Protests intensified with shop closures in Tehran, following significant inflation and political unrest after Mahsa Amini’s death.

Iran is grappling with its most severe economic crisis in years. Mass protests erupted across Tehran following the dramatic collapse of the national currency. The rial plunged to 1.42 million against the U.S. dollar over the weekend, briefly recovering to 1.38 million. This marks a loss of more than two-thirds of its value since 2022.

Annual inflation soared to 42.2 percent in December, with food prices up 72 percent year-on-year. Many Iranians are struggling to make ends meet, fueling public anger and unrest.

In response, Iranian President Masoud Pezeshkian ordered his government to engage directly with protest representatives. Calling the demonstrations “legitimate,” he emphasized the need for reforms in the monetary and banking sectors. Officials announced a dialogue framework to hear the voices of demonstrators.

The unrest coincided with the resignation of Central Bank Governor Mohammad Reza Farzin. Former Economy Minister Abdolnaser Hemmati is set to replace him, signaling possible shifts in economic policy.

Tehran’s commercial districts were paralyzed as shopkeepers in the Grand Bazaar and major streets closed businesses in solidarity. Videos on social media showed crowds chanting slogans as security forces used tear gas to disperse them.

International pressure is also rising. U.S. officials warned they would support action against Iran if the country resumes nuclear or missile development, following recent airstrikes on Iranian facilities.

The World Bank forecasts Iran’s GDP will contract 1.7 percent in 2025 and 2.8 percent in 2026, deepening economic concerns. How the government responds to these protests and reforms its economy may shape the country’s stability in the months ahead.