Xiaomi added to US list of alleged Communist Chinese military companies
The United State DoD has added Chinese hardware manufacturers, Xiaomi, to the list of alleged communist chinese military companies. The department of defense is working to counter the People’s Republic of China’s Military-Civil Fusion development strategy. This strategy supports the modernization of the People’s Liberation Army by allowing it access to technology and expertise developed by PRC companies and research programs.
The New York Stock Exchange struggles to handle the consequences of the listings. The current list contains Eight other companies in addition to Xiaomi and companies previously on the list. In November 2020, China Telecom, China Mobile, and China Unicom Hong Kong were delisted on the NYSE in response to an executive order. The Military-Civil fusion allows the PRC to increase the size of their military-industrial complex through relations with civilian companies according to President Trump. Just last week, an executive order banned eight Chinese apps due to national security concerns.