Biden unveils plans to screen US investments in China

President Biden issued an executive order Wednesday designed to prohibit Americans from investing in some Chinese companies. Details of the long-awaited effort are likely to inflame new tensions between Washington and Beijing. The plans could block American capital in the months ahead from being invested in semiconductor, quantum computing and some artificial intelligence companies operating in China or under the control of the Chinese government. The proposed rules will not go into effect immediately with the next step being a review period that could last for at least a few months. If the proposal goes into effect as currently written,…