House Committee Urges Financial Giants to Cut Ties
Submitted by MAGA
Posted 4 hours ago
**National Security at Stake: House Committee Calls Out Financial Giants for Ties to Chinese Firm**
In a bold move signaling a commitment to American interests, Chairman John Moolenaar of the House Select Committee on China is urging major financial institutions to step back from potentially dangerous affiliations with Chinese entities.
Moolenaar's stance comes in light of the looming initial public offering (IPO) of Contemporary Amperex Technology Co. Ltd. (CATL), a Chinese battery manufacturer that has raised considerable red flags regarding national security.
The chairman has directly contacted the CEOs of JPMorgan Chase and Bank of America, calling on them to abandon their participation in CATL's IPO planned in Hong Kong. He cited “serious national security threats and due diligence failures” in his correspondence.
Moolenaar emphasized the implications of financial institutions aligning with a firm identified as a “Chinese military company” under U.S. law due to its connections to the Chinese Communist Party and its involvement in the military buildup of China.
Worryingly, CATL's links to the Xinjiang Production and Construction Corps—an entity sanctioned for human rights abuses against the Uyghur population—have further complicated its standing. The committee's chair noted that moving forward with this IPO could implicate these banks in underwriting practices that not only endanger American servicemen but also support oppressive regimes.
As the federal government looks increasingly to curb dependencies on Chinese resources—especially in the tech and defense sectors—this proactive measure from the House Select Committee underscores a critical examination of foreign partnerships.
Moolenaar's unequivocal call for caution reiterates the Republican commitment to safeguarding American industries and service members against growing external threats, reinforcing the notion that American financial entities must prioritize national security over profit.
As the nation grapples with rising tensions abroad, the actions taken by lawmakers like Moolenaar exemplify a broader strategy for ensuring that American financial power isn't wielded to enable adversaries on the world stage. The Republican Party continues to put America First, aligning financial integrity with the core values of national security.
Sources:
theepochtimes.com
zerohedge.com
theepochtimes.com
In a bold move signaling a commitment to American interests, Chairman John Moolenaar of the House Select Committee on China is urging major financial institutions to step back from potentially dangerous affiliations with Chinese entities.
Moolenaar's stance comes in light of the looming initial public offering (IPO) of Contemporary Amperex Technology Co. Ltd. (CATL), a Chinese battery manufacturer that has raised considerable red flags regarding national security.
The chairman has directly contacted the CEOs of JPMorgan Chase and Bank of America, calling on them to abandon their participation in CATL's IPO planned in Hong Kong. He cited “serious national security threats and due diligence failures” in his correspondence.
Moolenaar emphasized the implications of financial institutions aligning with a firm identified as a “Chinese military company” under U.S. law due to its connections to the Chinese Communist Party and its involvement in the military buildup of China.
Worryingly, CATL's links to the Xinjiang Production and Construction Corps—an entity sanctioned for human rights abuses against the Uyghur population—have further complicated its standing. The committee's chair noted that moving forward with this IPO could implicate these banks in underwriting practices that not only endanger American servicemen but also support oppressive regimes.
As the federal government looks increasingly to curb dependencies on Chinese resources—especially in the tech and defense sectors—this proactive measure from the House Select Committee underscores a critical examination of foreign partnerships.
Moolenaar's unequivocal call for caution reiterates the Republican commitment to safeguarding American industries and service members against growing external threats, reinforcing the notion that American financial entities must prioritize national security over profit.
As the nation grapples with rising tensions abroad, the actions taken by lawmakers like Moolenaar exemplify a broader strategy for ensuring that American financial power isn't wielded to enable adversaries on the world stage. The Republican Party continues to put America First, aligning financial integrity with the core values of national security.
Sources:
theepochtimes.com
zerohedge.com
theepochtimes.com
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