The Biden administration is leaning toward making its executive order on U.S. investments in China more focused and targeted than some of the earlier suggestions, Axios has learned. Why it matters: Imposing new controls on U.S. companies and investors looking to develop and support Chinese projects will mark another escalation in the U.S.-China relationship. Administration officials also want to ensure that allies are fully consulted, which may mean that a final executive order is several months away. The goal is for the executive order to serve as a cornerstone for any future regulations on outbound transactions. ... (full story)