China Launches Scheme To Tighten Grip On U.S. Companies

( In an op-ed at The Hill, Dan Mahaffee, senior VP at the Center for the Study of the Presidency & Congress wrote of what he called “clear examples of Beijing’s influence” over the “engines of American corporate power” – namely Wall Street, Hollywood and Silicon Valley.

In his op-ed Mahaffee lays out just how much influence China has amassed over each sector.

On Wall Street, Mahaffee explains how the banks seeking investments in China are being used by the CCP as a means to influence American politics. China’s influence on Hollywood is well-chronicled – including movies agreeing to censor films for a Chinese audience to the humiliating groveling apology of “Fast and Furious” actor John Cena for calling Taiwan a country.

With regarding to Silicon Valley, Mahaffee argues that CCP affiliated venture capital funds are being used to influence American startups while major Silicon Valley corporations like Apple continue to seek favor with the Chinese Communists in order to tap in to the lucrative Chinese market.

Mahaffee’s purpose for writing the op-ed is to lobby Congress to pass the US Innovation and Competition Act recently passed in the Senate.

Though the Senate bill had bipartisan support, several Republican Senators voted against the bill.

Naturally the Democrat Senate Campaign Committee is claiming these Republicans are “siding with China over American workers.” But in reality, Republicans like Ron Johnson and Marco Rubio opposed it because it lacked the safeguards needed to ensure that none of the bill’s $3 billion a year funding for research and technology went to research entities already compromised by the Communist Chinese.

What is the point of spending all that money to bolster US research and technology to disentangle the US from China if China can simply belly up to the trough and enjoy the fruits of that funding?

China’s intrusion into US economic sectors is exactly what Republican members of the House Intelligence Committee are trying to address.

This past week, the House Intelligence GOP warned of Beijing’s “campaign of malign influence” throughout the US economy. Among the sectors of the economy Intelligence Committee Republicans identified as being at risk are pharmaceutical, manufacturing, agriculture, entertainment, media, finance, sports and technology.