Chinese Foreign Ministry.

Beijing, Aug 10 (RHC) The Chinese Foreign Ministry on Thursday denounced the politicization of business that the United States wants to do by using national security concerns to prevent investments in the Asian giant.

Beijing responded to Washington's executive decision to further control investments abroad and in particular, those coming from U.S. entities destined for the semiconductor and microelectronics sectors, quantum information technology and artificial intelligence in China.

According to the Foreign Ministry, the real objective of the measure is to deprive the Asian country of its right to develop, "selfishly pursuing U.S. supremacy at the expense of others."

In the Foreign Ministry's opinion, this is economic coercion and technological harassment, "an act that seriously violates the principles of market economy and fair competition".

Likewise, the Asian giant's diplomacy denounced that this executive order undermines the international economic and trade order, destabilizes global industrial and supply chains and harms both countries' interests and those of the global business community.

"This is de-globalization and an action to gradually suppress China," the foreign ministry added.

In addition, the portfolio urged the United States to stop politicizing, and weaponizing technological and trade issues.

"China will closely monitor developments and resolutely safeguard its rights and interests," the statement concluded.

In less than two months, high-ranking officials from Joe Biden's administration visited China, in what was perceived as an attempt to defuse deteriorating bilateral relations.

However, issues such as economic war, Taiwan and human rights have caused diplomatic ties between the two main economies of the world to be at the worst moment in their history. (Source: PL)