Posted on 02/08/2020 10:03:24 AM PST by E. Pluribus Unum
A Commerce Department official warned Congress recently that China is raising billions of dollars in U.S. capital markets and the activity could undermine American security.
Nazak Nikakhtar, assistant secretary for international trade at the Commerce Department, testified last month that Chinese companies raised $48 billion from American capital markets from 2013 through the end of last year.
Ms. Nikakhtar told the congressional U.S.-China Economic and Security Review Commission that 172 Chinese companies in September were listed on the three largest U.S. exchanges — Nasdaq, the New York Stock Exchange and the NYSE American — with a total market capitalization of more than $1 trillion.
The investments are part of the Chinese Communist Party’s doctrine of civil-military integration and means U.S. markets may be funding China’s military buildup, which includes an array of new missiles, warships and aircraft.
“This doctrine subordinates the civilian economy to the needs of the Chinese national security apparatus and was formally adopted by the Central Military Commission in December 2015,” Ms. Nikakhtar said. “In essence, this doctrine mandates that the Chinese government or military may direct any civilian sector entity — indeed any commercial corporate entity — to act on behalf of the Chinese government or military.”
China’s cash is also funding its “Belt and Road” initiative, the multitrillion-dollar infrastructure investment program in the developing world that is aimed at expanding Beijing’s geopolitical reach.
“These investments can serve as ‘persuasion’ for nations to follow Beijing’s directions,” Ms. Nikakhtar added.
Another concern is China’s implementation of a nationwide social credit rating system that critics warn can be used to coerce American businesses in China to give up corporate secrets. Under the system, multinational companies in China would be forced to transfer internal data to the Chinese government.
(Excerpt) Read more at washingtontimes.com ...
*yawn* China’s looking at a trillion dollar loss per month due to the Kung Flu, just to their GDP. A few billions from the equity market won’t make a whole heck of a lot of difference right now.
China has a greater industrial base than the United States.
We have only a small percentage of really smart Chinese.
The 19th Century was the British century.
The 20th Century was the American century.
The 21st Century is the Chinese century.
The Chinese have already pilfered most everything.
Communist Chinese as intellectual property thieves - who could have imagined it?
Unless Coronavirus wipes them out.
Of course. That’s a big reason why they want a trade surplus.
Those interested in this topic should read this excellent article in Hillsdale College’s “Imprimis”:
https://imprimis.hillsdale.edu/roger-w-robinson-stop-financing-china/
I was going to mention the same. Glad you did.
USA funds communism.
USA creating a communist world economic and military power.
USA tax money funding Red Communist tyranny.
USA citizens funding Red Communist tyranny.
People on this thread are part of the problem. DC traced.
Defend USA, or you are an enemy of USA; an enemy of We-The-People.
Correction: only some of the people on this thread, are the problem. Sorry.
President Trump has made a good start with imposing trade sanctions on Red Chinese trade. He also has done well in getting China to buy more US agriculture products to help our farmers.
With re-election, I hope he takes steps against this financial problem with US banks and finance companies buying Red Chinese bonds and other debt that helps the Chinese. Any Chinese company that is really a Chinese military front should be blacklisted. US retirement plans and funds should be discouraged from other Chinese stocks and debt, too.
Sorry, this is a non-news story that is 2 decades old.
Even better was the Clintons Regime giving the ChiComs satellite technology (’Buss tech for multiple units) which cost US industry billions and accelerated their ICBM technology (MIRVs) by about a decade.
Word.
(Sorry I was just reading that thread)
Yeah but not anymore! Chinese in the business of imploding right now!
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