China strongly opposes US bill addressing Beijing’s tech threat – Xinhua
China’s parliament expresses strong indignation and resolute opposition to the US bill addressing technology threat from Beijing, per Xinhua News Agency.
Additional points
National People's Congress (NPC) said the bill displayed a Cold War mentality.
Smears China's domestic and foreign policies and interfering in its internal affairs.
China’s response comes after “the US Senate voted 68-32 on Tuesday to approve a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology,” Reuters reports.
Market implications
In the run-up to the critical US inflation data, nothing seems to affect the market mood even as the US-Sino tensions escalate.
AUD/USD holds steady below 0.7750 while the S&P 500 futures remain on the back foot around 4,220.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
