John Cornyn: “Deng Xiaoping often repeated a Chinese proverb: Hide Your strength. Bide your time. Never take the lead. As a result of…”

“Deng Xiaoping often repeated a Chinese proverb: Hide Your strength. Bide your time. Never take the lead. As a result of that strategy, which worked beyond anybody's imagination, whether by the People's Republic of China or the Chinese Communist Party, America slumbered during the economic rise of the People's Republic of China. American companies invested. Chinese students studied here and then went home to use their new education to compete against us while intellectual property theft, forced technology transfers, and cyber crime emanating from the People's Republic of China have become rampant. Well, I think it is fair to say that the colossus that is America has finally awakened from its slumber and realized what a challenge China is to us and to world peace. Today, the market value of American investments in the PRC numbers in the trillions of dollars. Those are American companies that invested in China that helped them to grow their economy. It is no exaggeration to say that we have helped to build their economy into a near-peer status and helped them to finance a military that threatens us and our allies in the Indo-Pacific. What this amendment does that Senator Casey and I have been pursuing is to seek transparency. We need to understand as policymakers exactly what is going on. We are not asking for any sort of limitation on investments in the PRC.…”