Outlines How Trillions of U.S. Investment Dollars Have Funded the CCP
WASHINGTON — In testimony before the House Select Committee on the Chinese Communist Party (CCP), Roger Robinson, Jr. delivered a comprehensive examination of how U.S. investor capital is being used to fund China’s malign activities that directly threaten U.S. economic and national security. Robinson is an advisor to the Coalition for a Prosperous America (CPA), former National Security Council (NSC) Senior Director of International Economic Affairs for President Ronald Reagan, and former Chairman of Congressional U.S.-China Economic and Security Review Commission.
The hearing, titled “Leveling the Playing Field: How to Counter the Chinese Communist Party’s Economic Aggression,” examines how the CCP funds its economic aggression and policies that Congress and the Executive Branch should pursue to counter this threat.
Read Robinson’s oral testimony here and his written testimony here.
“Mr. Chairman and Members of the Committee, I greatly appreciate the opportunity to appear before you to describe what is arguably the largest strategic financial scandal in modern history,” Robinson testified. “It consists of the multi-trillion-dollar underwriting by our democracy of an authoritarian regime (read China) bent on undermining our values and way of life, aided by some fiduciarily malfeasant Wall Street firms and certain conflicted U.S. government regulators at the top levels of the Treasury Department, the Securities and Exchange Commission (SEC), and the National Economic Council (NEC).”
“For over twenty years, the U.S. has allowed a cavalcade of thousands of CCP-controlled Chinese publicly traded companies to enter the retirement and investment portfolios of average Americans with precious little, if any, diligence or screening concerning who these enterprises and their subsidiaries really are, or the corporate human rights and national security abuses they may have perpetrated, including already U.S.-sanctioned Chinese companies,” Robinson continued. “Moreover, none of these roughly 5,000 Chinese corporate securities traded in the U.S. capital markets are compliant with federal securities laws and generally lack adequate material risk disclosure, transparent financials, corporate governance, shareholder rights, the rule of law, and other standard requirements for their American and foreign corporate counterparts.”
“The list of Chinese corporate wrongdoers in state-level and other investment portfolios is long,” Robinson declared. “Tragically it includes companies equipping concentration camps, trafficking in forced labor, aiding and abetting genocide, building Chinese aircraft carriers, hypersonic glide vehicles, and other advanced weapons systems for the PLA, as well as companies engaged in IP and technology theft, espionage, and environmental despoilage.”
