Washington DC [US], December 27 (ANI): China, over the past year, has strategically captured the entire supply chain of United States, making it vulnerable and dependent on Beijing, said Lucas Kunce, the national security director at the American Economic Liberties Project.
Kunce told The Hill that the business people who testified during recent congressional hearings on tariffs revealed that the US cannot produce essential products including certain weapons systems and US dollars "without some components or resources coming from China."
"So China has strategically captured our entire supply chain," he told The Hill. "And it makes us vulnerable, and it hurts American workers too because we are losing skills that we need to try to get back and we're losing good-paying jobs."
Kunce argued that the U.S. economy and the individuals that control it pursue profit and "self-interest above everything else," which, he claims, China has used to its advantage.
"They figured out that all of the things that we build and create in our industries are controlled by individuals, and these individuals are subject to the profit slave," he said.
"So if they want to get our industries, our intellectual property, our manufacturing base, anything, all they have to do is make it profitable for those individuals to make the decision to go to China, and they'll do it," he added.
Last week, in another major setback to China, the US designated 58 Chinese companies out of 103 companies as foreign entities with military ties thereby restricting export, re-export and transfers with them.
Along with the 58 Chinese companies, the remaining are Russian companies, the US Commerce Department said.
According to a statement from the Commerce Department, the Bureau of Industry and Security (BIS) will amend the Export Administration Regulations (EAR) by adding a new 'Military End User' (MEU) List, as well as the first tranche of 103 entities, which includes 58 Chinese and 45 Russian companies.
"This action establishes a new process to designate military end-users on the MEU List to assist exporters in screening their customers for military end-users," said Commerce Secretary Wilbur Ross as quoted by the statement.
Ross said that the department recognizes the importance of leveraging its partnerships with the U.S. and global companies to combat efforts by China and Russia to divert U.S. technology for their destabilizing military programs. (ANI)