US Blacklist of China’s Tech Giants Risks Faster Decoupling
- Pentagon labels Tencent and CATL as Chinese military companies
- Move may ensnare more Chinese firms, disrupting supply chains
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The US’s latest move to expand its list of Chinese military companies risks doing more than tanking the shares of some of its most valuable companies: It also threatens to accelerate decoupling of the world’s biggest economies.
The Biden administration on Monday added Tencent Holdings Ltd., the world’s largest gaming publisher, and Contemporary Amperex Technology Co. Ltd., a key battery supplier to Tesla Inc., to its list of “Chinese military companies” — firms it says are working directly or indirectly with the People’s Liberation Army, or contributing significantly to China’s industrial base.