Rubio introduced a bill on Wednesday, August 4 that seeks to prohibit U.S. banks from lending to projects controlled by the CCP.
In his proposal, the senator stated that “The long arm of China reaching deep into American life isn’t some threat far off into the future” adding that China already controls the American environment.
“Today, the Chinese Communist Party has more control over what Americans can say, what we can hear, what we can read, what we can watch, than any foreign government has ever had in our history,” he said.
To make the case for the power of influence China has achieved over the United States, Marco Rubio recalled examples of American companies bowing to pressure from the CCP.
“The US corporations are so desperate to have access to the Chinese market that they’ll lead costly boycotts of a state (…) American companies have actually fired Americans who live in America for saying or writing something that China doesn’t like,” the senator recalled.
Rubio further mentioned when China severed trade ties with the NBA and banned preseason broadcasts in 2019 after the Houston Rockets general manager posted a (now deleted) pro-Hong Kong tweet amid ongoing unrest.
“China is stealing between 300 and 600 billion dollars a year… of American technology and intellectual property. They hack into networks and they take it. They use venture capital funds to buy promising technology startups. They hide their ownership, by the way,” the senator said.
He added: “They partner with universities on research and then they steal that research — often research whose seed funding came from the US taxpayer. They force American companies doing business in China to give the technology over to them.”
Rubio and other lawmakers emphasized, during the hearing, that the concerns were solely about the Chinese government and not about the Chinese people or Chinese Americans.