Two weeks ago, the first-ever hearing of the bipartisan House Select Committee on the CCP, the Chinese Communist Party, was held on Capitol Hill. It was a home run. It revealed how worried members of that new committee are when it comes to China. Scott Paul (from opening remarks): “The economic policies of the CCP represent a clear and present danger to the American worker, our innovation base, and our national security. For decades, the CCP has telegraphed its intentions with its five-year plans…its goals are to dominate key industries, set global standards, and weaken competitors, and they have attracted American investors to do so. Big company investment in China grew to $1.3 trillion in 20 years. The cost: tens of thousands of factory closures in America and an estimated $600 billion in IP losses. The incredibly cheap ‘China price’ masks the true cost of production. It’s made China the world’s factory thanks to trillions in subsidies, currency manipulation, exploiting workers and the environment, and lax safety standards that harm our consumers. The overproduction at state-owned factories goes on. Big Tech, retail legends, sports leagues, all bend the knee for the CCP.”
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