EXC: Biden China Speech ‘Welcomed And Encouraged’ Chinese Investment In U.S., Top Driver Of IP Theft And Job Loss
Democratic presidential candidate Joe Biden has said he’d “welcome, encourage, and see nothing but positive benefits” from Chinese direct investment in the U.S., the primary avenue whereby the Chinese Communist Party (CCP) takes control of U.S. companies and engages in intellectual property theft.
The remarks – uncovered from a 2011 Sichuan University speech – solidify Biden as a foe of U.S. businesses and ally of the CCP in its quest for global economic dominance.
Biden, who’s insisted “China’s rise isn’t our demise,” commented at the time: “President Obama and I, we welcome, encourage and see nothing but positive benefits flowing from direct investment in the United States from Chinese businesses and Chinese entities. It means jobs. It means American jobs.” This follows him advocating for Chinese expansion into “all levels of [U.S.] government, classrooms, laboratories, athletic fields, boardrooms” and even the military in the same 50-minute speech.
Biden is referring to “foreign direct investment” (FDI), a euphemism for the process that allows foreign nations – chiefly China – to pour capital into U.S. companies in exchange for ownership, influence, and profit. It’s defined as an “enterprise designed to acquire a controlling interest in [a foreign] enterprise.”