US Lawmakers Propose Measures to Counter China's Economic Dominance

The House Select Committee on the Strategic Competition Between the U.S. and the Chinese Communist Party (CCP) has released a report containing nearly 150 policy recommendations to reset the economic and technological competition between the two countries. The report aims to reset the terms of the economic relationship, prevent the flow of American capital and technology supporting China's military advances and human rights abuses, and enhance economic resilience with allies. It suggests countering unfair trade practices, reducing reliance on imports from China, pursuing WTO disputes, and pursuing bilateral trade agreements. The report also calls for increased transparency in U.S. companies' exposure to China and recommends legislation banning investment in PRC companies on U.S. sanctions and red-flag lists. Additionally, it emphasizes the need to restrict the flow of critical and emerging technologies and expand the authority of the Committee on Foreign Investment in the U.S. (CFIUS) to screen inbound investments from China.