Posted on 05/04/2020 7:33:47 PM PDT by E. Pluribus Unum
Rep. Jim Banks (R-IN), Navy veteran and House Armed Services Committee member, will introduce a bill on Tuesday to prevent the Chinese government from making “predatory” investments in American companies during the coronavirus pandemic.
Banks said in a statement:
Our job is to ensure the Chinese Communist Party doesn’t profit off a pandemic of their own making. President Trump won an election vowing to stop China from taking advantage of Americans. I am glad to be working with him now to stop Chinese predation.
The Restricting Predatory Acquisition During COVID-19 Act would expand the scope of the Committee on Foreign Investment in the United States (CFIUS) to review purchases of American companies by companies with ties to the Chinese Communist Party (CCP) during the coronavirus pandemic.
CFIUS is a committee staffed by members of the administration that reviews certain foreign investments and real estate transactions to determine their effect on U.S. national security.
Specifically, the bill would increase the scope of cases CFIUS reviews and sends to the president prior to a financial transaction.
It would also prevent companies with ties to the Chinese government from owning more than 51 percent of shares in critical infrastructure, organizations engaged in production and dissemination of news media, or entities otherwise determined to be critical to national security, critical infrastructure, or culturally significant by the president.
According to a May 2019 report by the U.S.-China Economic and Security Review Commission, Chinese foreign direct investment in U.S. companies is a primary method for its government to acquire valuable technology, intellectual property, and knowhow, in its bid to become the world’s leading superpower.
According to a report summary:
(Excerpt) Read more at breitbart.com ...
Stop? How about reversing?
Also, this isn’t getting past Pelosi as long as the DEMs control the House.
Praise YHVH (God)!
“ It would also prevent companies with ties to the Chinese government from owning more than 51 percent of shares in critical infrastructure, organizations engaged in production and dissemination of news media, or entities otherwise determined to be critical to national security, critical infrastructure, or culturally significant by the president.”
Why in the world would they let any ChiCom entity get to the 51% threshold?
Why are we not running a full on Marshall plan to bring it all back to the US? Or at least move it out of China.... Why are we seeing a little piece here or there...
Why are we not running a full on Marshall plan to bring it all back to the US? Or at least move it out of China.... Why are we seeing a little piece here or there...
While we are at it, can we stop Saudi Arabia from funding Islamic studies at US universities and building mosques here?
Way past due to have this legislation. China doesn’t need weapons to go to war with us; they’ll simply BUY us, if their acquisitions are allowed to proceed untrammeled.
To stop the return of manufacturing of products back to the US that went to China. China backers here who’s family members are making millions from China through their political connections will be hit hard are also claiming that Trump’s alleged stock ownership in a quinine pills maker claim its a controlling interest in a product to be totally ineffective and when used requires a severe restriction of movement when near a possible carrier known as a shutdown because of its rapid transmission .
Why are we not running a full on Marshall plan to bring it all back to the US? Or at least move it out of China.... Why are we seeing a little piece here or there...
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