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US politicians call for greater investment screening

Several senior US politicians have called on President Joe Biden to issue a decree ordering greater scrutiny of US companies’ investments in China. Biden should issue the legislation “to safeguard national security and supply chain resiliency on outbound investments to foreign adversaries,” said the letter, signed by House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, among others. The US Congress is currently considering new legislation that would grant the US government extensive new powers to block billions of dollars of US foreign investment in China.

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