A US congressional committee on China is to hold a war game simulating a Chinese invasion of Taiwan with financial and business executives in New York to show the risks of investing in China, the Financial Times reported yesterday.
US House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party Chairman Mike Gallagher and US Representative Raja Krishnamoorthi are tomorrow to lead the simulation, the newspaper said, citing an unnamed source close to the committee.
The participants are to include representatives from investment banks, current and former pharmaceutical company executives, and retired high-ranking US military officers, the Financial Times said.
Photo: Reuters
The panel is expected to meet Wall Street executives to scrutinize how potential US investment in China could harm US national security.
On Tuesday, they are to hold a hearing that would include testimony from former US Securities and Exchange Commission chairman Jay Clayton and investment manager Jim Chanos.
The Financial Times quoted the source as saying that the lawmakers wanted comments from the financial community about “the systemic risks that come with American capital flowing to China and how banks and other financial institutions think about their investments in China and exposure to the Chinese economy in the event of a political crisis.”
The war game is to explore the economic ramifications of a conflict between the US and China over Taiwan.
The US representatives in April attended a war game in Washington that “raised questions about whether the US and its allies were doing enough to prepare for sanctions on China and an economic war with Beijing,” the Financial Times said.
Earlier this year, the committee met Apple chief executive officer Tim Cook and Disney chief executive officer Bob Iger in several discussions that showed that Hollywood and Silicon Valley entrepreneurs underestimate the risk of war in Taiwan, Gallagher told the Financial Times.
Krishnamoorthi was quoted as saying that it was “important that our committee hear from the financial industry about how [Chinese Communist Party] policies are affecting Americans’ savings and investments and what Congress needs to do to help protect American investors and our national security.”
The bipartisan committee was established in January to assess and manage the national security threat posed by China. It has also addressed issues such as Beijing’s predatory economic practices and human rights transgressions.
A Chinese aircraft carrier group entered Japan’s economic waters over the weekend, before exiting to conduct drills involving fighter jets, the Japanese Ministry of Defense said yesterday. The Liaoning aircraft carrier, two missile destroyers and one fast combat supply ship sailed about 300km southwest of Japan’s easternmost island of Minamitori on Saturday, a ministry statement said. It was the first time a Chinese aircraft carrier had entered that part of Japan’s exclusive economic zone (EEZ), a ministry spokesman said. “We think the Chinese military is trying to improve its operational capability and ability to conduct operations in distant areas,” the spokesman said. China’s growing
Nine retired generals from Taiwan, Japan and the US have been invited to participate in a tabletop exercise hosted by the Taipei School of Economics and Political Science Foundation tomorrow and Wednesday that simulates a potential Chinese invasion of Taiwan in 2030, the foundation said yesterday. The five retired Taiwanese generals would include retired admiral Lee Hsi-min (李喜明), joined by retired US Navy admiral Michael Mullen and former chief of staff of the Japan Self-Defense Forces general Shigeru Iwasaki, it said. The simulation aims to offer strategic insights into regional security and peace in the Taiwan Strait, it added. Foundation chair Huang Huang-hsiung
PUBLIC WARNING: The two students had been tricked into going to Hong Kong for a ‘high-paying’ job, which sent them to a scam center in Cambodia Police warned the public not to trust job advertisements touting high pay abroad following the return of two college students over the weekend who had been trafficked and forced to work at a cyberscam center in Cambodia. The two victims, surnamed Lee (李), 18, and Lin (林), 19, were interviewed by police after landing in Taiwan on Saturday. Taichung’s Chingshui Police Precinct said in a statement yesterday that the two students are good friends, and Lin had suspended her studies after seeing the ad promising good pay to work in Hong Kong. Lee’s grandfather on Thursday reported to police that Lee had sent
A Chinese ship ran aground in stormy weather in shallow waters off a Philippines-controlled island in the disputed South China Sea, prompting Filipino forces to go on alert, Philippine military officials said yesterday. When Philippine forces assessed that the Chinese fishing vessel appeared to have run aground in the shallows east of Thitu Island (Jhongye Island, 中業島) on Saturday due to bad weather, Philippine military and coast guard personnel deployed to provide help, but later saw that the ship had been extricated, Philippine navy regional spokesperson Ellaine Rose Collado said. No other details were immediately available, including if there were injuries among
RSS