January 9, 2013
China Buys U.S. Tech to Boost Military
Gertz & Ciaramella, Free Beacon
China’s purchase of a United States high-technology battery maker will boost Beijing’s military forces and satellites and threaten the security of U.S. electrical power and communications grids, according former national security officials.
The Obama administration is currently reviewing the sale of the bankrupt U.S. company A123, which received an estimated $250 million in taxpayer funding for research, to China’s Wanxiang Group, a company with ties to China’s government.
The Treasury Department-led Committee on Foreign Investment in the United States (CFIUS) is reviewing the sale and, according to people close to the issue, could rule on whether to approve the Chinese purchase as early as the end of the month.
At issue in...
TAGGED: technology, China, United States