“Australia is assessing the implications of the Biden administration’s proposal which is currently out for public consultation.” Australia has already limited Chinese inbound investment on national security grounds. The bipartisan refusal to allow Chinese technology companies such as Huawei to participate in the construction of Australia’s 5G network continues to rankle Beijing, and twice this year the Foreign Investment Review Board has blocked Chinese companies’ attempts to lift their stake in critical minerals miners. Mr Biden signed a long-awaited executive order last week that allows the US Treasury to outlaw American investment in Chinese entities that develop advanced semiconductors, quantum…