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Anti-China Bill Being Softened After US Companies Complain (reuters.com)
Proposed legislation in Congress aimed at preventing China from acquiring sensitive technology is being softened after protests by big U.S. companies who fear a loss in sales, Reuters reported on Thursday, citing people with knowledge of the matter. From the report: Two bills in the House of Representatives and Senate would broaden the powers of the inter-agency Committee on Foreign Investment in the United States (CFIUS) in hopes of stopping Chinese efforts to acquire sophisticated U.S. technology. The bipartisan legislation has the support of President Donald Trump's administration. "We are concerned that it vastly expands the scope and jurisdiction (of CFIUS)," said Nancy McLernon, chief executive of the Organization for International Investment, a group that represents global companies with U.S. operations. Given the alarm that the legislation has caused, Senator John Cornyn's staff is drafting changes to address industry concerns, according to three sources. Cornyn's office did not respond to a request for comment.
There was no swamp, that was merely el Presidente Tweetie ginning up yet another fake antagonist for himself. He did a bank shot off the Republican view that the Federal government exists for itself. The Federal government looks the way it does because the American people want it that way. ePT cannot exist without straw men to get his followers excited about...it is just typical despot behavior done over the centuries the world over. No imagination, no class.
This isn't anything new.
The chinese have been spying and their espionage ranges from military to commercial.....and we really used to be cognizant of it and fight it back in the earlier days.
However, back then (60's and earlier), china wasn't the econmomic powerhouse they have become in recent decades....and while we like the money, we've let our guard down and let them take the upper hand in negotiations, etc.
The thing is, China thinks waaaay ahead with their plans, whereas we in the US seem to do well to see past 5 days, much less a year at a time.
I'm not a huge Trump fan, but one thing that the administration seems to at least be doing, is trying in some ways to address chinese aggression, which IS going on, has been going on, and trust me, they have long term laid plans to KEEP being aggressive.
They spy on everyone (not just the US)....and look how they are trying to encroach on international waters off their coast with the building of artificial "islands" and militarizing them.
Yes, we have to work with them, but we need to be wary of them and WILLING to stand up to them and say "no" from time to time.
If we only think of the commercial all mighty dollar in short term plans and actions, we'll lose the fight more than we already are doing currently.
We're letting them have too much leverage on us and the world as it is....
Light travels faster than sound. This is why some people appear bright until you hear them speak.........