China Tech Threat’s Major General James “Spider” Marks joined the Coalition for a Prosperous America and members of the American foreign policy and national security communities in a letter to President Biden supporting an outbound investment review mechanism to protect U.S. capital from the bolstering the CCP.
In the May 17 letter, the signatories wrote:
“We write to you today as members of the American foreign policy and national security community to indicate our support for the establishment of an outbound investment review mechanism. While Congress continues to review legislation intended to address this matter, we respectfully request that expeditious action be taken by the administration in the near-term to address the risks and threats associated with U.S. capital bolstering the CCP’s ability to modernize and advance its military and build other advanced technologies. We also respectfully request that Congress work to codify and modify as necessary any executive action through bipartisan legislation.”
While the letter acknowledges there are different perspectives on the right outbound investment model (reverse CFIUS), it demonstrates agreement that a process is needed and calls for expeditious action on coordination with congress.
For a deeper analysis of the Committee on Foreign Investment in the United States (CFIUS), review CTT’s 2020 white paper with case studies on its scope and broad range of tools.
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