Editors Note: Michael Stumo is CEO of the Coalition for a Prosperous America, a national organization based in Washington, D.C. Follow him at @michael_stumo. He wrote this commentary exclusively for the News Tribune. The coronavirus pandemic has revealed that globalized supply chains cause more risk than Wall Street has led us to believe. As a recent Senate…
Editor’s note: This press release from Ways and Means Chairman Richard Neal shows the House Democrats legislative proposal regarding the coronavirus pandemic. Committee provisions provide support for hospitals, patients, workers, and small businesses [Congressman Richard E. Neal | March 23, 2020 | House Committee on Ways & Means] Ways and Means Contributions to House Democrats’…
Editor’s note: Here are the recent actions from the Trump administration on COVID. Note especially the FDA actions relaxing certain rules for ventilators and other regulated items. Today President Trump signed an Executive Order providing the authority to address, if necessary, hoarding that threatens the supply of necessary health and medical resources. This includes the…
CPA member Rosemary Gibson testified March 12, 2020 before the Senate Committee on Small Business and Entrepreneurship, 90 percent of America’s generic drug needs are currently imported, particularly from China. This includes many well-known antibiotics and other medications used to treat coronavirus infections. However, the coronavirus outbreak has severely disrupted China’s production of drug exports for…
Editor’s note: China’s creeping colonialism is partially quantified as to Europe. For more than a decade, Chinese political and corporate leaders have been scouring the globe with seemingly bottomless wallets in hand. From Asia to Africa, the U.S. and Latin America, the results are hard to ignore as China has asserted itself as an emerging world…
Necessary response to mobilize US economy to fight pandemic Washington. The Coalition for a Prosperous America (CPA) strongly supports the Trump administration’s executive order enabling the Defense Production Act to mobilize the economy to fight the coronavirus. The pandemic has revealed economic weaknesses arising from excessive dependence on China and other countries for medical, drug and other critical production.…
CPA sent the following letter to President Trump today calling for an executive order to rebuild the drug and medical supply chain in the US as we face the coronavirus pandemic. March 18, 2020 The Honorable Donald J. TrumpPresident of the United StatesThe White House 1600 Pennsylvania Avenue, Northwest Washington, D.C. 20500 Re: Support for Executive Order…
Excerpt: ““Beijing intends to use the global dislocation and downturn to attract foreign investment, to seize strategic market share and resources—especially those that force dependence, and to proliferate global information systems; to as Chinese sources put it, ‘leap-frog’ industrially, ‘overtake around the corner’ strategically, capture the ‘commanding heights’ globally. Beijing intends to reverse recent U.S. efforts to counteract China’s subversive…
Health, Security, Economic Benefits from Reshoring By Steven L. Byers, PhD and Jeff Ferry With the spreading coronavirus pandemic, Americans are becoming increasingly aware of our dependence on foreign sources for important pharmaceuticals and other health care products. The US is dependent on China for over one third of all the antibiotics we import, and…
Editor’s Note: Jeff Ferry is chief economist at the Coalition for a Prosperous America (CPA). Two decades of offshoring pharmaceuticals has hurt our national security. [Jeff Ferry | March 17, 2020 | Industry Week] With breathtaking speed, the coronavirus has revealed a previously overlooked vulnerability in the U.S. economy. The United States has become heavily dependent…