How does ' throwing eggs' help new investment in China? Executive order of Joe Biden gets sidelined

It may sound absurd, but learning a card game is helping investment agencies in China stay afloat as US investment towards the world's second-largest economy led by President Xi Jinping, keeps falling through the cracks due to a recent executive order by current US President Joe Biden.

The executive order signed by US Prez Biden back in August 2023, restricts American investment in China in significant sectors including artificial intelligence, quantum computing and other technology-based services. This has led to a void for Chinese companies and investment agencies as they are looking at raising funds to keep themselves afloat as the US investments keep pulling out. However, card game, Guandan, also known as 'throwing eggs' has come to the rescue of the Chinese, according to an NBC report.

Chinese investment?

Guandan is a card game played by affluent provinces and cities of China, local financers are learning the game and playing it with their potential clients who play the game as a pastime. This shows massive effort from Chinese investors as US funds keep pulling out of the Chinese investing game, according to reports. China still has not recovered yet from the massive lockdown due to the coronavirus for around three years and the executive order by Biden has made things complicated for them.


Learning the local card game Guandan and playing it can be considered a social activity and will help woo clients towards local investment.

Playing Guandan

The basic concept of Guandan is to team up with your partner and strategize that one of you plays all your cards before either of your opponents does. Since this game is very easy to learn like Texas Hold’em or mahjong. it can be learned and played by beginners to the card scene as well.

Moreover, this game does not involve betting, which means it stays out of scanners of Chinese authorities, who are cracking down upon illegal gambling in the country.

FAQs:

What are the popular card games in China?
Mahjong is a very popular game in China played by people across different age groups. However, a card game known as Guandan is showing a rise in popularity, mostly among the investment sector professionals in China.

What kind of executive order did Joe Biden sign regarding to US investment in China?
US President Biden signed an executive order last year restricting US investment in China in various sectors including artificial intelligence and semiconductors.