Duval Times

In a recent article published on Fox Business, U.S. Senator Marco Rubio highlighted the significant risks that American companies face when conducting business in China. Rubio's concerns stem from China's aggressive economic strategy, which aims to displace American companies and achieve self-sufficiency in advanced manufacturing.

Rubio pointed out a striking example of the problematic U.S.-China economic relationship. He noted that Boeing CEO Stanley Deal paid $40,000 to sit with Chinese President Xi Jinping at a corporate summit in San Francisco. This gesture, according to Rubio, exemplifies how the relationship between the two countries has become increasingly untenable. Xi's ultimate goal is to replace Boeing with Chinese companies within a matter of years.

China has set ambitious targets for its public and nominally private sectors to achieve self-sufficiency in advanced manufacturing. To achieve this, the country resorts to tactics such as state subsidies, market manipulation, and the theft of trade secrets and intellectual property. Rubio argues that American companies not only face competition from China but also the risk of becoming obsolete due to their cooperation with the Chinese regime.

While attention has been given to China's draconian legal system and investors "de-risking" from Shanghai and Hong Kong, Rubio believes that the greatest danger lies in American companies losing their competitive edge. As a result, Rubio calls on policymakers to pass common-sense laws that protect and strengthen America's position in advanced manufacturing. This includes targeted investments in domestic production, tighter export controls, and greater restrictions on inbound and outbound investment.

Rubio acknowledges that these measures may face opposition from both the corporate left and the libertarian right. Nevertheless, he emphasizes that they are crucial for safeguarding the national interest and the long-term interests of companies' shareholders. The consequences of Beijing emerging victorious, according to Rubio, could be devastating for these companies.

In conclusion, Senator Marco Rubio's warnings about the real danger of doing business in China shed light on the challenges American companies face in the current economic landscape. With China's aggressive pursuit of self-sufficiency in advanced manufacturing, American companies must be cautious and take measures to protect their interests.

To learn more, click on this link: https://www.rubio.senate.gov/icymi-rubio-reveals-real-danger-of-doing-business-in-china/