Experts warn U.S. Congress of late and inadequate decoupling from China

Record ID: 1725404

  • Title: Experts warn U.S. Congress of late and inadequate decoupling from China
  • Date: 18th May 2023
  • Summary: WASHINGTON, D.C., UNITED STATES (MAY 17, 2023) (UNRESTRICTED POOL) PANEL BEFORE CONGRESS (LEFT TO RIGHT) FORMER ALPHABET CHAIRMAN, ERIC SCHMIDT; FORMER U.S.-CHINA ECONOMIC AND SECURITY COMMISSION CHAIRMAN, ROGER ROBINSON; FORMER U.S. TRADE REPRESENTATIVE, ROBERT LIGHTHIZER (SOUNDBITE) (English) FORMER U.S. TRADE REPRESENTATIVE, ROBERT LIGHTHIZER, SAYING: “I believe that
  • Embargoed: 1st June 2023 04:29
  • Keywords: China Committee on the Chinese Communist Party Eric Schmidt House of Representatives PRC Robert Lighthizer Roger Robinson United States trade
  • Location: WASHINGTON, D.C., UNITED STATES
  • City: WASHINGTON, D.C., UNITED STATES
  • Country: US
  • Topics: Lawmaking,North America,Government/Politics
  • Reuters ID: LVA001333717052023RP1
  • Aspect Ratio: 16:9
  • Story Text:Experts appearing before Congress on Wednesday (May 17) raised several red flags on what the U.S. risks in competition with China as talks of decoupling both economies gains traction in Washington.
    Former U.S. Trade Representative, Robert Lighthizer; former U.S.-China Economic and Security Commission Chairman, Roger Robinson and former Alphabet Chairman Eric Schmidt, all provided warnings of what a lagging U.S. economy might face if dependence on China continues its current pace.
    Lighthizer, who led the U.S. team during the USMCA negotiations, said he considers China "the most dangerous threat" facing the Unites States.
    Schmidt emphasized than any decoupling should consider strategic sectors like quantum, cyber, AI, biology, computer science and new energy without falling on bans that could hurt U.S. consumers.
    Meanwhile Robinson raised flags concerning the financial markets and how Chinese controlled companies could endanger American investors if conflict, like a potential aggression on Taiwan, were to escalate between the U.S. and China.
    The panel was invited by the House Select Committee on the Chinese Communist Party on the topic of "Countering CCP Economic Aggression."
    (Production: Gerardo Gomez)
  • Copyright Holder: POOL (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2023. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register