OP-ED: Trump’s Asia Trip Could Protect U.S. Jobs

By NTK Staff | 11.09.2017 @3:55pm
OP-ED: Trump’s Asia Trip Could Protect U.S. Jobs

Rep. Pat Meehan (R-PA) penned an op-ed in Penn Live this week that explained how Chinese involvement in U.S. companies could put entire economic sectors at risk of falling behind, or worse yet, under control of state-controlled Chinese businesses. But Chinese manipulation of our markets has become far more sophisticated than commodity dumping. Beijing is […]

Rep. Pat Meehan (R-PA) penned an op-ed in Penn Live this week that explained how Chinese involvement in U.S. companies could put entire economic sectors at risk of falling behind, or worse yet, under control of state-controlled Chinese businesses.

But Chinese manipulation of our markets has become far more sophisticated than commodity dumping. Beijing is urging state owned companies to make domestic manufacturing investments and quietly obtain minority stakes in sensitive sectors.

There are examples across all sectors of the U.S. economy, and few corners of the country are out of reach. Earlier this year, Wanhua Chemical Group – a Chinese chemical company with Communist party leadership on its board of directors – announced plans to build a $1.2 billion manufacturing plant in Louisiana.  

In 2014, Chinese insurance giant Anbang purchased New York City’s landmark Waldorf Astoria hotel – typically used by the President of the United States when he visits New York — only to be ordered later by the Chinese government to sell it. What will happen to American workers when the Chinese government abruptly orders the shutdown of a U.S. manufacturing plant?

As Meehan points out, this scenario puts not just U.S. economic sectors at risk but our national security as well. “The Pentagon warned earlier this year the Chinese were quietly investing in U.S. start-up companies in sensitive defense sectors. Industrial espionage has long played a key role in China’s strategy, but soon their spying will be done from inside the Board Room.”

With President Trump’s trip to Asia, he has an opportunity to defend the U.S.’s national economic and security interests with Chinese President Xi Jinping.

“Welcoming responsible foreign investment into the United States has the potential to generate more economic growth and opportunity for the middle class,” Meehan wrote. “But elected leaders from both parties should remain clear eyed about unfair infusions of Chinese cash into our communities. The future of the American worker may depend on it.”

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