American techies in China may be breaking the law by showing up to work
Okun also said the Biden administration almost certainly plans outbound investment restrictions aimed at China. He elaborated:
What we have now is the Committee on Foreign investment in the United States , so if a foreigner wants to buy a seaport, or utilities, or other critical infrastructure, it must get approved by the Treasury Department before that foreigner's allowed to buy that asset in the United States. That is an inbound investment restriction.
What we think is coming is a reverse CFIUS which means before a US company can buy a Chinese company, it has to get approved by the United States. That has never happened before, other than with military technology, but it is now going to be a much broader outbound investment review than we've ever had before.
One consequence of a potential reverse CFIUS is that venture capital firms in countries like Singapore that invest in tech companies in China and raise money from sources that include US citizens will have to seek Uncle Sam's permission before buying Chinese companies.
"The worry has always been not over the hacking of the voting systems and that people would be changing the votes, but on disinformation and influence operations," he added. ®
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