WASHINGTON, D.C. - In a Select Committee on China hearing, Congressman Carlos A. Gimenez questioned Robert Lighthizer, former U.S. trade representative, Roger Robinson, Chairman of the Prague Security Studies Institute, and Dr. Eric Schmidt, Chairman of the Special Competitive Studies Project on ways to counter the Chinese Communist Party’s (CCP) economic warfare. 

This economic warfare includes forced nationalization, market-distortion, intellectual property theft, and exploitation of U.S. capital markets. The Communist Chinese are adversaries, not allies, and the U.S. needs to to decouple our economy and protect American industry.

See below for a transcript of Congressman Carlos A. Giménez’s line of questioning:

“Throughout history, Communist and socialist regimes, such as the USSR, Czechoslovakia, Yugoslavia, Cuba, Venezuela, Bolivia, Romania, and Vietnam, have nationalized industries. And so with the United States being so heavily invested in China and producing so much in China, what do you think is the likelihood that eventually American corporations and industries will be nationalized in Communist China?

“I tend to think that if we somehow get into a conflict with China, the first thing they are going to do is nationalize American companies. What would you advise these companies to do?"

“Is there one thing we should do, here in Congress, to try to protect American investors, especially those who are in pension funds and mutual funds, etc that are invested heavily in China to try to protect their investment in the future, knowing or thinking that nationalization may be an eventuality?"

WITNESSES:

Robert Lighthizer

Former United States Trade Representative from 2017 to 2021

Roger Robinson

Chairman, Prague Security Studies Institute, Former Chairman of Congressional U.S.-China Economic and Security Review Commission

Dr. Eric Schmidt

Chairman, Special Competitive Studies Project

For video of Congressman Carlos A. Giménez’s questions click HERE. 

Congressman Carlos A. Giménez serves as Chairman of the Homeland Security Subcommittee on Maritime Security. He is the only Cuban-born Member of the 118th Congress, having been forced from his homeland shortly after the Communist takeover of the island. Rep. Giménez represents Miami-Dade County and the Florida Keys. Rep. Giménez serves on the House Armed Services Committee, Homeland Security Committee, and the Select Committee on China.  

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