Commentary American investors will have to tread carefully in considering Chinese companies for their portfolios. On June 3, President Biden signed an Executive Order expanding Trump era restrictions on U.S. capital from resourcing Chinese companies, including subsidiaries, that form part of China’s military-industrial complex. This is as much a religious freedom and human rights sanction as a national security one. The new order reaffirms that the Chinese Communist military poses an “ongoing national emergency” and prohibits U.S. persons from investing in “Chinese companies that undermine the security or democratic values of the United States and our allies.” Identifying 59 Chinese companies in the new list of prohibited entities, Biden’s Order explicitly singles out the threat posed by Chinese surveillance technology outside China, and that is used to facilitate repression or serious human rights abuses. China’s surveillance technology, the use of which Biden calls “unusual and extraordinary threat,” is becoming the …