The Biden administration recently issued an executive order intended to limit outbound U.S. investment in China. Given Beijing’s increased hostility to Taiwan, its growing friendship with Russian President Vladimir Putin and rapid progress in advanced technologies, there are obvious national security justifications for such an order. However, the Biden executive order simply doesn’t go far enough — or in a timely enough manner — to address China’s rapid growth in advanced technologies that pose both civilian and military challenges for the United States. Because of this, it must be enhanced by more developed and robust congressional action — or further...