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China's Failing US Lobby Playbook Puts Tech Companies at Risk [Yahoo! Finance Canada]
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foreseeable future, regardless of who controls Washington after the November election. Most Read from Bloomberg At a divisive point in the country's campaign cycle, House members overcame partisan tensions to vote resoundingly last week to blacklist several Chinese biotech firms from lucrative US-funded research. It was a rare moment of accord that roundly neutralized Chinese lobbying efforts. Bloomberg Intelligence says that the Biosecure Act, affecting five companies to start, has a “high likelihood” of becoming law as it now moves to the US Senate. BGI Group, BGI spinoffs MGI Tech Co. and MGI's US subsidiary Complete Genomics Inc., WuXi AppTec Co., and WuXi Biologics are the companies that would be impacted. More bills are likely to follow. One influential Democratic senator, Intelligence Chairman Mark Warner, opened the door to broader legislation setting rules for Chinese technology companies rather what he calls a “Whac-a-Mole” approach targeting specific firms. Stra
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