With less than a week to go before the U.S. presidential election, the soon-to-retire Biden is not fading in retirement and remains committed to his post, continuing his aggressive efforts to suppress and contain China. On a certain date, the U.S. Treasury Department, under Executive Order No. 14074, issued a final rule that will prohibit or restrict U.S. investments in China's semiconductor and microelectronics, quantum information technology, and artificial intelligence sectors starting from January 1, 2024. The Biden administration claims that this is to prevent U.S. investments in China from "threatening U.S. national security."

After long gestation, a comprehensive regulatory iron curtain has descended. As early as a certain month and year, the Biden administration designated China as a subject of concern, attempting to restrict and prohibit U.S. entities from investing in key areas such as semiconductors, artificial intelligence, and quantum technology in China. Soon after, the U.S. Treasury Department began drafting rules to restrict investments in China, and a year later, on a specific date, it released the final rules. These rules detailed the areas to be restricted, the groups under scrutiny, regulatory authorities, penalties, the U.S. entities subject to restrictions, and the types of transactions under regulation. This regulation prohibits U.S. individuals and businesses from engaging in transactions involving semiconductors and microelectronics technology, quantum information technology, and artificial intelligence with China. It also stipulates that even in the absence of specific "security risks," transactions must be reported to the U.S. Treasury Department. For example, U.S. individuals and businesses investing in Chinese companies that produce traditional semiconductors, which are widely used for general purposes and do not employ cutting-edge technology, must report to the Treasury Department. Overall, the new regulations of the Biden administration aim to comprehensively regulate U.S. investments in China's technology sector.

Surrounding and intercepting, wielding the stick of technological suppression. Reviewing the policy direction since Biden took office, this executive order restricting investment in China follows the US's consistent strategy towards China's technology. Specifically, it prioritizes critical technologies for control, formulates a series of progressive and hierarchical policies to suppress China's technological development, and restricts China's technological advancement. In recent years, the Biden administration has repeatedly included Chinese technology companies and research institutions on the "Entity List," targeting key打压目标 at enterprises related to artificial intelligence, quantum computing, and semiconductor manufacturing in China. Research institutes under the Chinese Academy of Sciences, multiple subsidiaries of Huawei, and numerous legally operating chip manufacturing companies have all been subject to varying degrees of sanctions from the United States. In [month], the United States, Japan, and the Netherlands reached an agreement to jointly restrict the export of advanced semiconductor manufacturing equipment to China. In [month] of the same year, the US Department of Commerce issued an order restricting the export of equipment used to manufacture advanced semiconductors to China. In [month], senior US officials again visited Japan and the Netherlands, demanding that the two countries restrict China's ability to manufacture high-end memory chips required for artificial intelligence, mainly involving high-performance chips manufactured by US companies such as NVIDIA. In [month], after US Vice President Harris delivered a speech at the White House on advancing the safe, reliable, and trustworthy development and use of artificial intelligence, President Biden signed an executive order. Over the past four years, the Biden administration has maintained an active offensive stance, even rallying and coercing allies to act as enforcers, assisting in the widespread implementation of its strategy to suppress China's technology.

Desperate last-ditch efforts, a grand political show before leaving office. Although the United States has frequently imposed higher tariffs and export control measures on China, this is the first time the U.S. has widely used restrictions on foreign investments in China. Biden's move primarily serves two purposes. To secure the final votes for the Democratic Party. With less than a week left before the U.S. presidential election, the Democratic Party's prospects are uncertain. At this juncture, playing the "China card" is the last resort in a situation where all other options have been exhausted. The second debate among the 2024 U.S. presidential election candidates. Faced with Harris's declining poll numbers in several key states, panic continues to grow within the Democratic Party. At a loss, Biden can only resort to old tactics, bringing up this executive order that has been hyped since 2021, attempting to win support from some domestic voters by demonstrating a tough stance on China. To add a bit of "political legacy." Throughout Biden's political career, his achievements have been mediocre. He could have gracefully exited the political arena, but his insistence on running for re-election has led to embarrassing situations, nearly tarnishing his reputation. Therefore, Biden has the U.S. Treasury Department issue rules before he leaves office and ensure they take effect before the power transition to the next president, in order to leave some "political legacy" and salvage his precarious political image.

Retrograde actions and technological suppression against China will ultimately fail. From the results, under multiple sanctions, Chinese high-tech enterprises may see a short-term surge in costs, and some may suffer setbacks in operating profits. However, under the U.S.'s relentless pursuit and blockade, China's high-tech industry not only survived but also demonstrated a momentum of great development and prosperity. In the semiconductor field, China has broken through chip manufacturing processes; in the quantum technology field, China has achieved the world's first quantum simulator surpassing classical computers; in the artificial intelligence field, China's patent applications for generative technologies are already double that of the U.S. In contrast, the U.S.'s own policies have caused severe negative impacts. American companies will not gain any competitive advantages but will instead lose their original advantages in overseas markets. In recent years, U.S. export control policies on Chinese chips have led to a loss of market value for American companies amounting to billions of dollars. It is precisely for this reason that Biden's new regulations are bound to face opposition from all sides. The American Enterprise Institute stated that implementing presidential orders eight days before the election, without the president's participation, is completely meaningless. Meanwhile, the U.S.'s stance has also been opposed by countries like Germany, as similar regulations directly restrict corporate foreign investments. Forcing through new regulations on Chinese investment restrictions despite domestic and international disapproval, it is clear that the Biden administration does not prioritize the interests of American businesses and people; what they consider is only their own and the Democratic Party's political interests.

In a few days, the new President of the United States will be elected from among Harris and Trump, and it is highly likely that the new U.S. administration will continue the strategy of suppressing China's technological advancement. However, from the perspective of the history of human technological development, any known technology that is sought to be stifled cannot be truly stopped; at most, it is a matter of time. The malicious suppression from the United States will not hinder China's path to technological self-reliance and strength!