Last Wednesday, Senator Marco Rubio (R-FL) said that the media is ignoring China’s rampant illegal wealth transfer activities. This allegation is among disclosures made during a Senate Intelligence Committee hearing.
Biggest Illegal Wealth Transfer In History
Rubio said that the media often reports stories about the redistribution of wealth. However, they conveniently ignored China’s continued theft of US technology. This helped create “the biggest illegal wealth transfer” in world history.
“China is stealing between $300 and $600 billion a year of American technology and intellectual property,” said Rubio. In addition, China corners the market for wind turbines and renewable energy materials.
Beijing is now cornering the market for “vital pharmaceutical ingredients” and generic medicines. This information is from the testimony of former counterintelligence officer Anna Puglisi.
Rubio also said Beijing uses venture capital funds to buy promising technology startups. However, they hide their ownership to avoid detection. Then, they form partnerships with research universities only to steal the data.
Meanwhile, these startups often get funding from US taxpayers. In addition, China forces US firms with businesses in China to turn over technology. Rubio said that China weaponized American openness and decency.
In addition, the country also weaponized corporate American’s lust for profits. As a result, China is now “carrying out the biggest illegal wealth transfer from one nation to another.”
Apart from illegal wealth transfer, China is also stealing US technology information. The cost of China’s illegal espionage of US technology is between $4,000 to $6,000 per American family.
This is according to Bill Evanina, former director of the National Counterintelligence and Security Center. A majority of the stolen data contains military applications. As a result, China can use any financial benefit to fund the expansion needs of the People’s Liberation Army. “Economic security is national security,” Evanina said.
China’s increased technological presence also poses a problem for cybersecurity. Evanina said that the CCP already stole “80% of American adults’ personal data.
China Also Collects Americans’ Personal Data
Matthew Pottinger is a former deputy national security adviser under former President Donald Trump. He also presented his testimony. He said that the CCP “now compiles dossiers on millions of foreign citizens around the world”. It uses the material to influence or blackmail certain people. Ultimately, the aim is to divide and conquer.
Companies that partnered with the Chinese government also collected genetic data. This includes DNA information from pregnant women and unborn children.
A Reuters article last July reported that a Chinese gene company sells prenatal tests worldwide. Developed in collaboration with the Chinese military, these tests collect genetic data. As a result, they now know data from millions of women for sweeping research on the traits of populations.”
Media Seems Uninterested
The Senate Intelligence Committee usually holds its meetings behind closed doors. However, they opened this meeting to the public to inform the American public. Committee chair Mark Warner (D-VA) said he and Rubio agreed that Americans should know. However, only CSPAN and PBS NewsHour carried live footage of the hearings. The rest of the US media outlets gave sparse coverage.
Watch the Forbes Breaking News video featuring Florida senator Marco Rubio criticizing Hollywood for caving to the Chinese Communist Party:
Do you agree that China is behind the biggest illegal wealth transfer movement? What do you think is the US doing to stop this? What can the public do to help prevent China from overrunning the US in technological terms?
Let us know what you think. Share your thoughts below.