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pump the brakes. the "The Select Committee on the Chinese Communist Party" is actually "United States House Select Committee on Strategic Competition between t
by nimbius 3y ago
pump the brakes.
the "The Select Committee on the Chinese Communist Party" is actually "United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party" so its a bit misleading to assume they dont have a vested interest in slamming companies that invest in Chinese firms. https://en.wikipedia.org/wiki/United_States_House_Select_Committee_on_Strategic_Competition_between_the_United_States_and_the_Chinese_Communist_Party https://en.wikipedia.org/wiki/United_States_House_Select_Com...
The organization is basically a last-ditch bipartisan effort to put the tiger back in the cage and was formed after most of the octogenarians in congress were made aware that China was somewhere less than a decade away from eclipsing US GDP. Whatever your views on the CCP are, these guys are largely in it to maintain US hegemony by slandering trade in the hopes it inspires investors or CEO's to reconsider a country that not only beat the US to 5G technology, but built its own space station in four years time and its own competitive sub 10nm chipset to comply with US bans on imports. https://www.theregister.com/2022/07/22/china_smic_7nm_chips/ https://www.theregister.com/2022/07/22/china_smic_7nm_chips/
If you honestly wanted to play this nationalist game, it arguably should have started about 30 years ago. no 'beacon on the hill' burns forever, but the capital class certainly did their best to douse the light along the way through profiteering and unchecked globalization.