US Lawmakers move to restrict investments in China citing security concerns
US Lawmakers Introduce COINS Act to Limit Investments in China's Military and Tech Sectors
Chairperson John Moolenaar and Rep Andy Barr have introduced the Comprehensive Outbound Investment National Security (COINS) Act. This legislation aims to restrict US investments in Chinese sectors that bolster the Chinese Communist Party's military and technological advancements, as well as human rights violations. The COINS Act provides guidelines to ensure American savings and retirement funds are not invested in companies that pose military threats or engage in human rights abuses.
A companion bill has been introduced in the Senate by Senators John Cornyn and Tim Scott. Moolenaar emphasized the importance of responsible investment, stating that American funds should not support the CCP's military or human rights abuses. Barr highlighted the need for a strategic response to China's ambitions, ensuring transparency and national security.
The COINS Act follows investigations revealing significant US investments in Chinese AI and semiconductor industries linked to military and human rights issues. The Act aims to prevent American capital from supporting sectors that undermine US national security.
Doubts Revealed
COINS Act
The COINS Act is a proposed law in the United States that aims to stop American money from being used to help China's military and technology sectors, which might be harmful.
John Moolenaar
John Moolenaar is a politician in the United States who is helping to introduce the COINS Act to protect US interests.
Rep Andy Barr
Rep Andy Barr is another US politician working with John Moolenaar to introduce the COINS Act.
Chinese Communist Party
The Chinese Communist Party is the main political party in China that controls the government and makes important decisions for the country.
Senate companion bill
A Senate companion bill is a similar proposal introduced in the US Senate to support the same goals as the COINS Act in the House of Representatives.
John Cornyn
John Cornyn is a US Senator who is helping to introduce the Senate version of the COINS Act.
Tim Scott
Tim Scott is another US Senator working with John Cornyn on the Senate version of the COINS Act.
US national security
US national security refers to the safety and protection of the United States from threats, including those from other countries.
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