I urge Biden to build upon — not undo — the critical work the previous administration took to address China’s exploitation of U.S. capital markets.
For starters, Biden should keep or improve Trump’s executive order to prohibit U.S. investments in Chinese firms on the Defense Department list of Communist Chinese military companies. The decision of whether to side with American workers, service members and mom-and-pop investors or Beijing and payouts for Wall Street investment bankers should be easy.
Leaving the executive order in place would make Biden the second president in history to convey to the CCP that it will no longer be able to exploit our financial system. It would also put Wall Street on notice — campaign donations do not buy a free pass to sell out U.S. workers and industry.