Economic crisis could hasten Beijing’s Taiwan attack plan: Rep. Gallagher
The Impending Economic Storm in China Could Accelerate Beijing’s Timeline for Mounting an Invasion of Taiwan
House China Committee Chairman Rep. Mike Gallagher (R-Wis.) warns that the economic crisis in China could push Beijing to take action against Taiwan sooner than expected.
The property sector, which drives the world’s second-largest economy, is currently facing a severe crisis as major players struggle to pay off debts. Additionally, China’s demographic challenges, exacerbated by high youth unemployment, have created a volatile situation.
According to Mr. Gallagher, the visible signs of this crisis may prompt the ruling Chinese Communist Party (CCP) and its leader, Xi Jinping, to become more aggressive in the near future.
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Mr. Gallagher believes that Xi Jinping may expedite his plans to forcefully take Taiwan to divert attention from internal economic issues and seize a unique opportunity. He warns that the world has entered a period of maximum danger regarding a potential conflict over Taiwan.
The CCP has always expressed its desire to take control of Taiwan, and tensions have been escalating in recent years. Chinese warplanes frequently fly near the Taiwan Strait, and the situation has intensified after the Taiwanese vice president’s visit to the United States.
If Taiwan were to fall into Beijing’s hands, it would have severe consequences for the global economy. Taiwan is a semiconductor superpower and a crucial supplier of sensitive U.S. military technology.
Mr. Gallagher emphasizes that the United States is currently ill-prepared for a potential conflict. The country’s weapon stockpiles are dangerously low, making it difficult to defend Taiwan.
He urges the need to prevent Xi Jinping from believing that an invasion of Taiwan is achievable. Economic pressure on China must be maintained, and there should be no talk of a bailout.
‘Subsidizing Our Own Destruction’
The House Select Committee on the CCP has launched an investigation into BlackRock and MSCI, two companies that have directed blacklisted Chinese entities. Mr. Gallagher highlights the concerning investment in military-linked Chinese genetic firm BGI Genomics, which is involved in forced labor abuses.
He argues that allowing American money to invest in such companies is subsidizing the nation’s own destruction. While some action has been taken to halt investments, the extent of money flowing into China remains largely unknown.
Mr. Gallagher urges U.S. investors to recognize the risks and understand that they are dealing with an increasingly hostile regime. He warns that the Chinese Communist Party threatens war in the near term and aims to dominate the globe in the long term.
As Commerce Secretary Gina Raimondo prepares for her trip to China, Mr. Gallagher cautions against joining any agreements that could compromise U.S. interests.
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