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Marketplace All-in-One

China criticizes U.S. investment ban

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 10 August 2023

⏱️ 6 minutes

🧾️ Download transcript

Summary

From the BBC World Service: We look at the impact of a new U.S. policy that will seek to restrict American investment in Chinese tech, especially in sensitive technologies like computer chips. The aim is to ensure that U.S. cash does not support China’s military modernisation. Plus, as West African leaders meet again to discuss the coup in Niger we hear how it’s affecting life on the ground for people in the country. And, Cher has been selling her own ice cream around Los Angeles, the Cherlato. We speak to the New Zealand ice cream maker behind the brand, Giapo Grazioli.

Transcript

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0:00.0

China slams the U.S.' latest investment restrictions.

0:05.4

Hello, and you're listening to the Marketplace Morning Report.

0:08.2

Live from the BBC World Service, I'm Leana Burns, and a very good morning to you.

0:12.8

Now we talked about the struggles for China's economy, but it was facing earlier this week,

0:17.4

and now the U.S. has made it even harder. After President Biden signed an executive order

0:22.6

restricting new American investment there, especially in sensitive technologies like

0:27.7

computer chips. China has responded by saying it's disappointed.

0:31.4

Here's the BBC's jail creature with her statement.

0:33.6

China opposes the U.S.'s overuse of national security to politicise and weaponise trade,

0:40.2

scientific and technological issues. We urge the U.S. side to honour its word and follow through

0:46.3

on President Biden's commitment of not seeking to decouple from China,

0:51.0

halt China's economic development or contain China that is essential for fostering a sound

0:56.8

environment for China's U.S. economic cooperation and trade.

1:01.2

So how called the new orders affect China, Dr. Hong Ru,

1:04.7

as Associate Professor of Banking and Finance at Singapore's Nanyang Business School?

1:10.1

We all know that the Chinese economy has experienced

1:13.5

child ingesting its post-Covid recovery, and there are many reasons for this,

1:18.9

and one major reason is that the export activities in China has been declining,

1:25.7

especially with the U.S. So to put it in perspective,

1:29.7

Mexico has recently surpassed China as the U.S. Number One trading partner.

1:35.6

So while these new sanctions, U.S. investments in China's sense technology might not

1:41.6

directly affect the integrity of Chinese export volume,

...

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