beijingwalker
ELITE MEMBER
- Joined
- Nov 4, 2011
- Messages
- 65,195
- Reaction score
- -55
- Country
- Location
Senator Rubio Prepares To Blast China In Speech Today
Kenneth Rapoza
Apr 30, 2019, 08:26am
Senator Marco Rubio, a Republican from Florida, says China's rapid growth from poverty to global tech powerhouse is thanks to the West...and wholesale theft of intellectual property on the part of Chinese businesses. Photographer: Al Drago/Bloomberg
© 2019 BLOOMBERG FINANCE LP
Senator Marco Rubio can be counted on to be a Republican hawk on China. And so on Tuesday afternoon at the Willard InterContinental in downtown Washington, the Florida Senator will show his disdain for China politics during an event honoring the 35th anniversary of President Ronald Reagan's pro-democracy speech at Shanghai's Fudan University.
"Communist China has pulled off the greatest illegitimate transfer of wealth in human history," Rubio will say later this afternoon based on his prepared remarks shared with the press this morning. "It has done so by using forced technology transfer and a 'whole-of-nation' approach to espionage to steal the crown jewels of American innovation and ingenuity from our companies, our centers of research, and our universities."
To most people on Wall Street, and throughout much of the emerging markets, China's growth from a dollar-a-day Happy Meal toy making economy to the world's No. 2 economic power, the kind that can build 5G telecommunications systems and sells more cars than anywhere in the world, is all thanks to Beijing. What the Communist Party leadership says, people do. It's that simple. For countries in Latin America and Africa, importing "the Chinese model" was a real consideration throughout much of the early 2000s.
To Rubio, and many others in Washington regardless of party, China's advancement is based on two things: an industrial policy that required foreign companies -- not just Americans -- to partner with the locals and transfer tech know-how. This was as much a problem for an American chemicals manufacturer for home appliances, to Brazilian airplane manufacturer Embraer.
Earlier this year, the Director of National Intelligence issued its Worldwide Threat Assessment report for 2019. China was front and center. At this point, one would be hard-pressed to find any China watcher who believes the trade war is just about manufacturing jobs at home. It's about geopolitical power. The U.S. thinks China is pulling ahead. China can take control of Asia through investing and through promoting its own corporate brands through the new Belt and Road Initiative. It's building a Navy fleet now. South China Sea is the flashpoint, as good excuse as any to get defense planners in Washington up in arms over Beijing.
The trade war is not about tariffs. It's about Chinese multinationals like Huawei. It's about who will be the go-to power source in Asia: the U.S., which has been since the end of World War II, or China, which has many Southeast Asian nations like Vietnam willing to become a quasi-vassal state to the Chinese.
" China is pursuing new arms and other capabilities — far too often by stealing American military technological secrets — so it can more aggressively menace Taiwan, Japan and other U.S. allies, and directly challenge American forces in the Indo-Pacific region," Rubio says, as if on cue regarding how the U.S. wishes to roadblock China from becoming a military power in Asia.
For its part, China stresses that it does not want confrontation with the U.S. and is not preparing for a future fist fight with the Americans in Asia.
Rubio puts China in the same camp as Russia, two countries who never really see eye-to-eye on anything except for maybe natural gas pipelines. China, for instance, is helping fund the Venezuelan government of Nicolas Maduro, as are the Russians. That country hangs like a loose tooth anyway, and China is only marginally interested in it insofar as they get the crude oil deliveries they paid for years ago in debt deals with a bankrupt Caracas.
The Ronald Reagan Institute will host Senator Marco Rubio in a Conversations with Great Communicators Speaker Series event this afternoon. The event will also feature a panel discussion with former Senator Jim Talent of the U.S.-China Commission and Dr. Jacqueline Deal, CEO of the Long Term Strategy Group, a Cambridge, Massachusetts-based defense research firm. Newmyer is a close watcher of China’s increasing military presence in the Indian Ocean. She has testified before the U.S.-China Economic Security and Review
Commission on Chinese military modernization and Chinese influence operations in the United States.
It will be interesting to see how Senator Rubio responds to President Trump's supposed trade deal with China expected in May.
Treasury Secretary Steve Mnuchin said they were just putting on the finishing touches. Some investors think the China deal will be too soft, taking tariffs off the table. China's stock market has been growing like gangbusters all year in a combination of both new index inclusion by the indexers over at MSCI, and global investor sentiment that Trump won't raise tariffs on some $200 billion worth of China goods this year.
Rubio thinks Chinese mercantilism has been a problem. Any deal that keeps that practice intact would likely be negative in Rubio's view.
"We are only now belatedly grasping how China has emerged as a systemic rival to free-market democracies," Rubio says. "(China is) a rival that is using our own free and open international order against us."
https://www.forbes.com/sites/kenrap...to-blast-china-in-latest-speech/#211907c839b3
Kenneth Rapoza
Apr 30, 2019, 08:26am
Senator Marco Rubio, a Republican from Florida, says China's rapid growth from poverty to global tech powerhouse is thanks to the West...and wholesale theft of intellectual property on the part of Chinese businesses. Photographer: Al Drago/Bloomberg
© 2019 BLOOMBERG FINANCE LP
Senator Marco Rubio can be counted on to be a Republican hawk on China. And so on Tuesday afternoon at the Willard InterContinental in downtown Washington, the Florida Senator will show his disdain for China politics during an event honoring the 35th anniversary of President Ronald Reagan's pro-democracy speech at Shanghai's Fudan University.
"Communist China has pulled off the greatest illegitimate transfer of wealth in human history," Rubio will say later this afternoon based on his prepared remarks shared with the press this morning. "It has done so by using forced technology transfer and a 'whole-of-nation' approach to espionage to steal the crown jewels of American innovation and ingenuity from our companies, our centers of research, and our universities."
To most people on Wall Street, and throughout much of the emerging markets, China's growth from a dollar-a-day Happy Meal toy making economy to the world's No. 2 economic power, the kind that can build 5G telecommunications systems and sells more cars than anywhere in the world, is all thanks to Beijing. What the Communist Party leadership says, people do. It's that simple. For countries in Latin America and Africa, importing "the Chinese model" was a real consideration throughout much of the early 2000s.
To Rubio, and many others in Washington regardless of party, China's advancement is based on two things: an industrial policy that required foreign companies -- not just Americans -- to partner with the locals and transfer tech know-how. This was as much a problem for an American chemicals manufacturer for home appliances, to Brazilian airplane manufacturer Embraer.
Earlier this year, the Director of National Intelligence issued its Worldwide Threat Assessment report for 2019. China was front and center. At this point, one would be hard-pressed to find any China watcher who believes the trade war is just about manufacturing jobs at home. It's about geopolitical power. The U.S. thinks China is pulling ahead. China can take control of Asia through investing and through promoting its own corporate brands through the new Belt and Road Initiative. It's building a Navy fleet now. South China Sea is the flashpoint, as good excuse as any to get defense planners in Washington up in arms over Beijing.
The trade war is not about tariffs. It's about Chinese multinationals like Huawei. It's about who will be the go-to power source in Asia: the U.S., which has been since the end of World War II, or China, which has many Southeast Asian nations like Vietnam willing to become a quasi-vassal state to the Chinese.
" China is pursuing new arms and other capabilities — far too often by stealing American military technological secrets — so it can more aggressively menace Taiwan, Japan and other U.S. allies, and directly challenge American forces in the Indo-Pacific region," Rubio says, as if on cue regarding how the U.S. wishes to roadblock China from becoming a military power in Asia.
For its part, China stresses that it does not want confrontation with the U.S. and is not preparing for a future fist fight with the Americans in Asia.
Rubio puts China in the same camp as Russia, two countries who never really see eye-to-eye on anything except for maybe natural gas pipelines. China, for instance, is helping fund the Venezuelan government of Nicolas Maduro, as are the Russians. That country hangs like a loose tooth anyway, and China is only marginally interested in it insofar as they get the crude oil deliveries they paid for years ago in debt deals with a bankrupt Caracas.
The Ronald Reagan Institute will host Senator Marco Rubio in a Conversations with Great Communicators Speaker Series event this afternoon. The event will also feature a panel discussion with former Senator Jim Talent of the U.S.-China Commission and Dr. Jacqueline Deal, CEO of the Long Term Strategy Group, a Cambridge, Massachusetts-based defense research firm. Newmyer is a close watcher of China’s increasing military presence in the Indian Ocean. She has testified before the U.S.-China Economic Security and Review
Commission on Chinese military modernization and Chinese influence operations in the United States.
It will be interesting to see how Senator Rubio responds to President Trump's supposed trade deal with China expected in May.
Treasury Secretary Steve Mnuchin said they were just putting on the finishing touches. Some investors think the China deal will be too soft, taking tariffs off the table. China's stock market has been growing like gangbusters all year in a combination of both new index inclusion by the indexers over at MSCI, and global investor sentiment that Trump won't raise tariffs on some $200 billion worth of China goods this year.
Rubio thinks Chinese mercantilism has been a problem. Any deal that keeps that practice intact would likely be negative in Rubio's view.
"We are only now belatedly grasping how China has emerged as a systemic rival to free-market democracies," Rubio says. "(China is) a rival that is using our own free and open international order against us."
https://www.forbes.com/sites/kenrap...to-blast-china-in-latest-speech/#211907c839b3
