Over the past year, China has strategically captured the entire supply chain of United States, making dependent on Beijing, and hurting American workers on the job front, said Lucas Kunce, the national security director at the American Economic Liberties Project.
In an interview, Kunce said that the business people who testified during the congressional hearings on tariffs revealed that the United States 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 said. “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 noted that the U.S. economy and the individuals that control it pursue profit and “self-interest above everything else,” which, he said, 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, 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.
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.