Pelosi, other Dem leaders, urge Biden to get tough against dubious investments by China, other adversaries

President Joe Biden has been perceived by many Americans as taking too soft a stance against arguably the nation’s biggest rival, communist China, especially with regard to lucrative Chinese investments in American property.

In fact, even House Speaker Nancy Pelosi (D-CA) and Senate Democratic Leader Chuck Schumer (D-NY) think Biden hasn’t done enough to address the issue, as they have now urged him to take executive action to limit and restrict such investments by foreign adversaries, Fox News reported.

Interestingly enough, the call for executive action is not meant to be in place of actual legislation, as such demands from Democrats usually are, but rather is to serve as a sort of advance placeholder for a prospective bipartisan bill on the matter that is still being worked out in both chambers of Congress.

Take action now, future legislation can fill in blanks later

The letter, sent to President Biden on Tuesday, made note of a prior legislative effort that fell short earlier in the year that aimed to “enhance visibility on supply chain vulnerabilities and to prevent the offshoring of critical production capacity and intellectual property to our foreign adversaries,” including China and Russia, “that threatens American workers and our national security.”

That bipartisan legislation, known as the National Critical Capabilities Defense Act, is currently being revised by lawmakers to address certain details and shortcomings that had proven to be roadblocks to passage when first introduced, and is expected to be reintroduced in its revised form after the midterm elections.

In the meantime, “American workers, businesses and our national security cannot afford to wait,” the lawmakers wrote.

“As deliberations continue in Congress, we urge your Administration to move forward with executive action — which can then be bolstered by statutory provisions — to safeguard our national security and supply chain resiliency on outbound investments to foreign adversaries,” the group of legislators continued.

The letter went on to note the “unsettling trend” of American supply chains, particularly those dealing with “critical capabilities,” being increasingly reliant upon and vulnerable to the self-interest and whims of foreign adversaries.

“When we cede our manufacturing power and technological know-how to foreign adversaries, we are hurting our economy, our global competitiveness, American workers, industry and national security,” the letter concluded. “Government action on this front is long overdue to address the scope and magnitude of these serious risks we face as a country.”

Questionable investments by China and others should be monitored, limited

Central to this push from lawmakers for executive action from Biden are reports that adversarial nations like China are strategically investing in and taking control of certain companies that are integral to the nation’s supply chain and security, as well as farmland and other undeveloped property in crucial locations, such as in the near vicinity of military bases.

Fox News noted that the White House had previously suggested, albeit without much detail, that Biden was considering taking action on imposing certain oversight requirements and other restrictions on Chinese investments in America.

This is all somewhat surprising and even a bit refreshing, as it is now Democratic leaders like Pelosi and Schumer, and not just oppositional Republicans, who are pressing the president to get tougher against China and other adversaries.

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