‘Sabotage your country or get out,’ desperate China holds US companies hostage.
The Communist nation of China is a hostage holder. It kidnaps foreigners, demands ransom from their host countries in kind and brutalises the victims while at it. There are umpteen instances of China resorting to kidnapping foreign nationals. The case of Canadian nationals, Michael Spavor and Michael Kovrig being held captive by China is the best example one can provide. In exchange, the CCP has been strongarming Canada and the United States to return Huawei CFO Meng Wanzhou to China. Now, the Xi Jinping regime of China is upping its game. It is now openly threatening Americans in the United States with dire consequences for their businesses if they do not agree to serve the CCP’s purposes.
Two bills are at the centre of China’s worries. The U.S. Innovation and Competition Act (USICA), passed the Senate with bipartisan support in June and a related bill in the House of Representatives called the Eagle Act, which is more strictly policy-focused, has sent China into a tizzy. The legislations seek to boost U.S. competition with China and fund semiconductor production – both of which worsen China’s pre-existing woes to a large extent. China has openly asked top U.S. executives and business groups to initiate lobbying efforts to ensure such legislation do not see the light of day.
The letter by the Chinese embassy said, “We sincerely hope you … will play a positive role in urging members of Congress to abandon the zero-sum mindset and ideological prejudice, stop touting negative China-related bills, delete negative provisions, so as to create favorable conditions for bilateral economic and trade cooperation before it is too late.” It added, “Promoting a China-free supply chain will inevitably result in a decline in China’s demand for U.S. products and American companies’ loss of market share and revenue in China.”
U.S. Congress the Latest Target for China.
The U.S. Congress is the seat of American democracy. It represents everything American. Now, China is wanting to co-opt this institution to further its objectives. A U.S. House of Representatives committee earlier this year advanced legislation intended to boost competitiveness with China. The legislation authorises roughly $250 billion in funding for technology research, semiconductor development and manufacturing, as well as subsidies for robot makers and chipmakers amid a shortage of microchips around the world.