Chairman Poe on the hearing: “For too long China’s predatory trade and investment policies have given Beijing an unfair advantage in the global economic sphere.  Despite its membership in the World Trade Organization, the communist regime has wielded protectionist trade barriers, currency manipulation, and forced technology transfers to bolster its domestic economy and squeeze out foreign companies. Xi Jinping’s Belt and Road Initiative is another example of China’s relentless drive to become a world power by imposing unsustainable debt on vulnerable economies eager for investment. This hearing will allow members to learn more about China’s efforts to cheat the international economic system and explore potential policy countermeasures.”

Chairman Yoho on the hearing: “The Administration’s intent to rework the U.S.-China trade relationship is welcome, because China’s predatory economic and industrial policies have gone unanswered for too long.  These practices are designed to leech the benefits of the economic openness the world has offered to China, while avoiding the obligations of the global trading system. Through policies such as ‘Made in China 2025,’ Xi Jinping is using these unfair practices to target the high-tech industries that the United States’ economy will depend on in the future. We must ensure that U.S. actions to bring fairness and reciprocity to U.S.-China trade go beyond the imbalances of today and safeguard our future competitiveness and prosperity. In this hearing, we’ll do just that.”

Opening Statements

Full text of Chairman Ted Poe’s opening statement

Witnesses

Derek Scissors, Ph.D.
Resident Scholar
American Enterprise Institute
[full text of statement]
[truth in testimony form]

Robert D. Atkinson, Ph.D.
President
Information Technology and Innovation Foundation
[full text of statement]
[truth in testimony form]

Mr. William Alan Reinsch
Scholl Chair in International Business
Center for Strategic and International Studies
[full text of statement]
[truth in testimony form]