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August 6, 2020 Source:  Keith Krach

China Challenge Testimony

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Senate Testimony: The China Challenge — The Elephant in the Room, China’s Retaliation

Under Secretary of State, Keith Krach testifies before the U.S. Senate Subcommittee on Security. According to Krach, "The biggest elephant in the room is China’s retaliation. It terrifies countries and it terrifies companies. And this is the whole reason for an alliance of democracies, which would also include the private sector, because there is strength and power, in unity and solidarity.

Krach continues, "And if you look at China’s tactics, they’re a bully. And, you know, bullies back down when they’re confronted. We’ve all experienced at some point. And they really back down if you have your friends by your side. And that’s why, for example, when Boris Johnson said, hey, we’re going to reconsider that Huawei decision. That was a few months ago. And you could see, immediately, the retaliation by the CCP. Beijing threatened the HSBC Bank and the Chinese U.K. ambassador threatened to take away their hundred billion dollar infrastructure investment in the U.K.

Secretary Pompeo stood right up and said, "Look, we stand with our allies. We stand with the U.K. against this China bully. We’ll stand up for anybody. Whatever we need to do." And that is the most powerful concept, because what China has done is they’ve fragmented. They go after the the weak gazelle in the herd.