Since 2000, the Chinese government made overseas expansion its national strategy, with the government taking the lead to boost support for related policies.
On January 3, 2025, a decision was made that shook economic relations between Japan and the United States. U.S. President Joe Biden issued an executive order blocking Nippon Steel’s acquisition of U.S. steel giant U.S. Steel, citing national security concerns. This is a highly unusual situation in which the purchase of an American company by a firm from a U.S. ally was directly halted by presidential authority.