Checks and Balance: All the committee in China

Checks and Balance from The Economist

The Economist

Politics, News & Politics, News, Us Politics

4.6 • 1.7K Ratings

🗓️ 18 August 2023

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Washington has been busy debating what to do about China. Arguments abound about whether to try to engage with the Communist Party, or to focus on deterrence. Congress continues to debate industrial policy, arming Taiwan and whether to ban TikTok. And as the House’s select committee releases policy suggestions, the Biden administration is forming its own through executive orders. How bipartisan will the next stage of US-China policy be? And what will it look like?

Representative Mike Gallagher, chair of the House’s China Select Committee, along with Representative Raja Krishnamoorthi, the Democratic ranking member, discuss the committee’s aims and possible achievements. And we go back to another time Congress set America’s China policy.

John Prideaux hosts with Charlotte Howard and Idrees Kahloon.

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Transcript

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0:00.0	Finance doesn't need to be disrupted.
0:03.0	It means people who see the potential for progress,
0:06.0	like faster payments, more transparency, and new ways to meet compliance,
0:11.0	so that finance can move at the speed of business.
0:15.0	This is what our blockchain solutions deliver for financial institutions,
0:19.0	enterprises and central banks around the world.
0:22.0	Progress is a choice, and it's one you can make right now.
0:26.0	Ripple, crypto means business.
0:35.0	It took until 1843 for a Bill mentioning China to come before Congress.
0:41.0	It was over trade.
0:43.0	The Bill instructed President John Tyler to establish commercial relations
0:47.0	between the US and the Chinese Empire with national equal reciprocity.
0:52.0	It was the year after the First Opium War,
0:55.0	and Britain had forced China to open more ports to foreign businesses.
1:00.0	America wanted in.
1:03.0	The Bill gave the President $40,000 about $1.5 million today to complete the job,
1:09.0	but offered no more specific instructions.
1:13.0	The whole Act barely fills a page.
1:16.0	It's just a bit over 100 words, yet it spurred a trade deal that would last for 99 years.
1:22.0	Three decades after it was passed,
1:25.0	relations soured when America banned Chinese people from moving to the USA.
1:30.0	Since then, China has sometimes seemed like an opportunity to Americans,
	...

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