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Biden bans U.S. investment in companies linked to China's surveillance activities

President Joe Biden issued an executive order Thursday that would ban Americans from investing in companies linked to China's military and its surveillance activities.

Why it matters: Biden's executive order is an expansion of one issued by the Trump administration in November 2020, and shows that the Biden administration "continuing some of the hard-line China policies left by former President Donald Trump," according to the Wall Street Journal.


The big picture: The Trump administration's executive order banned Americans from investing in 31 companies linked to the Chinese government.

  • Biden's executive order expands on the order, listing 59 companies and includes Chinese technology firms that make or deploy surveillance technology, which contribute to the "surveillance of religious or ethnic minorities or otherwise facilitate repression and serious human rights abuses," per the White House press release.
  • The goal of the executive order is to "ensure that U.S. investments are not supporting Chinese companies that undermine the security or values of the United States and our allies," per the release.
  • The ban will take effect on August 2, but investors will be allowed to conduct trades over the next year in order to divest themselves of their holdings in the banned companies, per the Financial Times.

Of note: In order to effectively crack down on China's use of surveillance technology the U.S. would need to convince its allies in Europe, as well as Japan and South Korea, to also institute similar investment bans, the New York Times notes.

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Violence in Portland after far-right groups rally

Federal authorities intervened after clashes between armed far-right groups, some with "ties to fascist" organizations, and anti-racism protesters near the Justice Center in downtown Portland, Oregon, saw rocks, mace and paint balls used, per the Oregonian.

Of note: Portland Police officers "remained at a distance ... even as people beat others with sticks, and at least two right-wing activists brandished handguns," the Washington Post reports. The police blamed limited resources in a statement on "why the events downtown were not declared a riot and why police did not intervene."

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Meet the Team USA athletes participating in the Tokyo Olympics

Data: Team USA; Cartogram: Connor Rothschild/Axios

613 Olympians, plus a handful of alternates ready to step in at a moment's notice, will represent the U.S. in Tokyo over the next two weeks.

Why it matters: That's the largest contingent ever for a non-host nation, and the second largest in Team USA history (648 at Atlanta 1996). This is also the third straight Olympics in which women (329) outnumber men (284).

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What we learned from the Tokyo Olympics

TOKYO — The Tokyo Olympics have shown that the global sporting event is increasingly tied to events beyond athletics — a reality that will be inescapable in future Games.

Why it matters: From the handling of COVID to protest rules and shaky economics, there are lessons for Olympicsorganizers in Beijing, Paris and beyond, as well as things to ponder for those considering hosting or sponsoring upcoming Olympics.

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