The U.S. Congressional Committee on Economic and Security Review (USCC) held an online hearing yesterday (15th) to discuss the Chinese Communist Party’s ban on imports of Australian wine and Taiwanese pineapples and its ambition to bully the world economically, inviting Matt Pottinger, who served as Deputy White House National Security Advisor during the Trump presidency, former Secretary of State Mike Pompeo, Chief The meeting was attended by Matt Pottinger, former Secretary of State Mike Pompeo, Chief China Policy Advisor Maochun Yu, and University of Toronto professor Loren Brandt.
USCC member Roy Kamphausen, president of the National Bureau of Asian Research, a Washington, D.C., think tank, testified at the hearing, focusing in particular on the Communist Party’s economic intimidation efforts. He said that the Chinese Communist Party has imposed sudden economic bans on several countries that rely heavily on its markets, causing a serious impact on these countries, more importantly, they are mostly U.S. partners and allies. Including the ban on Australian lobster, red wine imports, punishing Australia to promote the investigation of the origin of the Chinese Communist Party virus and other unfavorable policies of the Chinese Communist Party, and recently stopped the import of Taiwan pineapples without warning.
Gan Haoshen said, on the case of Taiwan pineapple, the country’s foreign minister Wu Chiu-sup launched the “free pineapple” initiative, just a week to attract a large number of domestic and foreign buyers, quickly offset the loss of sales. However, Gan Haosen believes that a similar approach may not apply to all products that may be boycotted by the Chinese Communist Party. Therefore, the U.S. side is thinking of an overall response policy to be more creative.
In this regard, the White House deputy national security adviser Bo Ming believes that the first action of the United States is public solidarity, to Australian wine at the end of last year by the Chinese Communist Party economic sanctions, the White House National Security Council immediately tweeted to voice, the White House also held a special promotion of Australian wine activities. Bo Ming laughed and said that his kitchen was hung with a poster that read “Fight Communism, drink Australian wine”.
Former U.S. White House Deputy National Security Advisor Bomin. (Photo credit: Associated Press)
Bomen also proposed the idea of establishing a “Economic NATO” (Economic NATO). Under this structure, if the Chinese Communist Party uses economic leverage to bully businessmen and laborers in Taiwan, the Philippines, or the United States for political purposes, this alliance will be able to quickly absorb the sanctioned products through certain mechanisms, thereby achieving countermeasures to intimidate the Chinese Communist Party.
Bo Ming also pointed out that China has a huge market power and can therefore use its economic leverage to coerce other countries. He assessed that Beijing’s next step would be to monopolize the supply chain of high-tech products, becoming the only supplier and attempting to cut off the world’s supply sources. Not only would it then not buy your country’s products, but it would also not ship you important supplies, such as semiconductors, electronics, fiber optics or pharmaceuticals, Booming said.
Chief China policy adviser Yu Maochun, on the other hand, suggested that the U.S. executive branch should take reciprocal measures to prohibit Chinese investment in corresponding U.S. industries on an article-by-article basis, based on the negative list of foreign investment access issued by China each year. The U.S. Congress should also establish a mechanism for U.S. companies suffering from unequal treatment in China to have a channel to complain, and then the Washington government should follow this information to offer sovereign reciprocal measures to Beijing.
Yu Maochun said that if the free world does not unite and cooperate to change the behavior of the Chinese Communist Party, it may end up being changed instead. Yu said the U.S. is in a position to and must win this geopolitical power struggle, which is a zero-sum game with the U.S. and the free world, according to the core of the Chinese Communist Party.
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