Romney calls for U.S. to ‘take action collectively’ with other nations against China – By Henry Ren (MarketWatch) / July 22 2020
‘I believe China can be dissuaded from the course they’re on,’ says Utah Republican
Sen. Mitt Romney is calling for the U.S. to lead a coalition of countries that embrace fair trade to push China to stop its predatory pricing and theft of intellectual property.
“There’s no other nation that can provide the leadership that’s necessary to develop a global approach to China’s ambition, and to tell them that ambition cannot be realized in the way you’re pursuing it,” the Utah Republican said Tuesday during a Center for Strategic and International Studies webinar. “We have to be the nation that does that. We have not done that today.”
In January, President Donald Trump signed a “Phase 1” trade deal with China, imposing harsher punishments to deter Chinese firms from stealing intellectual property, a practice that Beijing has long denied. However, Romney said China continues to drive Western companies out of business by subsidizing technologies or selling products massively below costs while enjoying unfettered access to foreign markets.
“I believe China can be dissuaded from the course they’re on,” Romney said. “But if we don’t take action collectively, then they will continue down that pathway until the point when it’s too late for us to get them to take a different course.”
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