Should Americans be concerned about the amount of Chinese ownership in the United States?
According to Fox News reported June 30, 2020
“Medicine:
China produces 97 percent of U.S. antibiotics and about 80 percent of active pharmaceutical ingredients used in American drugs, giving the Chinese Communist Party absolute control of potentially life-saving medicine. For example, Chinese pharmaceutical companies supply 70 percent of the world's acetaminophen, commonly used in Tylenol.
Food:
In 2017, the United States imported $4.6 billion in agricultural goods from China, which is also responsible for much of the global supply of soy and pea proteins that are found in nutritional supplements and synthetic meats. A Chinese firm has also purchased Smithfield, the world's largest pork processor and hog producer.” https://www.foxnews.com/world/how-much-of-the-united-states-does-china-really-own
On May 28, 2021 the New York Post reported:
“President Biden dropped an ominous note into his remarks to American service members at a Virginia military base Friday, telling them that his Chinese counterpart believes Beijing will “own America” inside the next 15 years.” https://nypost.com/2021/05/28/biden-china-believes-it-will-own-america-within-next-15-years/
The Epoch Times has an article at https://www.theepochtimes.com/a-glimpse-of-chinas-ownership-in-us_3786909.html that discusses the Chinese ownership in various companies in the United States including Smithfield a meat producer.
January 4, 2022 The Balance reported:
“China's Large Position in U.S. Treasuries
China, which owns an estimated $1.1 trillion in U.S. Treasuries, is the number-two investor among foreign governments, according to the May 2021 figures released by the U.S. Treasury.1 This amounts to over 15% of the U.S. debt held overseas and about 3.6% of the United States' total debt load.23
Why These Big Numbers Aren't Necessarily a Problem
China's huge investment in U.S. government bonds has stirred controversy in recent years for two reasons pertaining to perceived risk.
Slower U.S. Growth
If China stops buying or elects to sell even a small portion of its position, U.S. Treasury prices would fall, and yields would rise. The result of higher rates, in turn, would likely be slower economic growth and higher borrowing costs for the U.S. government. Some also view China's huge Treasury position as leaving the United States economically vulnerable to the decisions of a foreign government.” https://www.thebalance.com/how-much-u-s-debt-does-china-own-417016
Even before China’s recent threats “The media mouthpiece for the Chinese Communist government touted the country’s “urgent” goal to expand its arsenal of long-range nuclear missiles in anticipation of an “intense showdown” with the US.
“As the US strategic containment of China has increasingly intensified, I would like to remind again that we have plenty of urgent tasks, but among the most important ones is to rapidly increase the number of commissioned nuclear warheads, and the DF-41s, the strategic missiles that are capable to strike long-range and have high-survivability, in the Chinese arsenal,” wrote Hu Xijian, the editor of the Global Times.
“The number of China’s nuclear warheads must reach the quantity that makes US elites shiver should they entertain the idea of engaging in a military confrontation with China,” he said in the opinion piece.
“On this basis, we can calmly and actively manage divergences with Washington to avoid a minor incident sparking a war. US hostility toward China is burning. We must use our strength, and consequences that Washington cannot afford to bear if it takes risky moves, to keep them sober,” Hu wrote, adding that Beijing must be ready for the “intense showdown.”” https://nypost.com/2021/06/02/chinese-media-says-beijing-expanding-its-nuclear-arsenal/
Can Americans afford to have China so heavily invested in our country? With the new threats of China as an enemy of the United States, the government and American people should be setting us on a trajectory of self-sufficiency.
When President Nixon opened up China manufacturing companies flocked to the country due to inexpensive labor. Many product formerly made in the USA are now made in China.
In my opinion America should not have to rely on an enemy for so many essential products. Is it time to bring back most manufacturing to the states?
Proverbs 1:7 New American Standard Bible 1995
“7 The fear of the Lord is the beginning of knowledge; Fools despise wisdom and instruction.”
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