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Illegal Wealth Transfer

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Kerby Andersonnever miss viewpoints

China and the Chinese Communist Party have been stealing the wealth from America and American companies for years. But the establishment media have generally done a poor job of covering this important issue. Fortunately, a public hearing of the Senate Intelligence Committee brought needed focus on this issue.

Senator Marco Rubio (R-FL) estimated, “China is stealing between $300-600 billion a year of American technology and intellectual property.” He concluded that this is “the biggest illegal wealth transfer from one nation to another in the history of mankind.”

He described the way the Chinese have been able to do this. “They use venture capital funds to buy promising technology startups; they hide their ownership, by the way. They partner with universities on research and then they steal that research — often research whose seed funding came from the U.S. taxpayer. They force American companies doing business in China to give the technology over to them.”

The Chinese Communist Party not only steals our wealth; they steal our privacy. Bill Evanina is the former director of the National Counterintelligence and Security Center and testified at the hearing. He estimated that 80 percent of American adults have had all of their personal data stolen by the Chinese Communist Party and the other 20 percent have had most of their personal data stolen.

Senator Mark Warner (D-VA) serves as the chairman of the Senate Intelligence Committee. He explained that the committee normally does not hold open hearings but did so in this case because he believes “this story needs to get out to the American public.” Unfortunately, the establishment media too often ignores this important story.viewpoints new web version

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