A recent bill in Congress proposing to ban federal contracting with certain Chinese pharmaceutical companies triggered a rapid market selloff.
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Chinese companies survived and thrived in the US in 2023 despite headwinds; 2024 may be a window of respite and a last chance to grow deeper roots.
Several positive developments in US-China relations have occurred since the leaders’ summit in San Francisco in November 2023.
China has been more actively scrutinizing US-related semiconductor deals in retaliation to the US expansion of China-focused export controls.
The US has escalated its export control regime again, dealing a blow to China’s AI development.
The US-China rivalry has evolved beyond the trade war into a new phase of intense geopolitical competition.
The release of the device will intensify US political pressure and will likely lead to attempts to tighten the export control regime against China.
The scope of the plan is quite limited; the White House’s goal is to allow US investors to continue investing in less-sensitive areas of Chinese tech.
US politicians have brought up several proposals on the matter, but none are likely to materialize in the near future.