US needs to take China sanctions further: Expert
Atlas Organization founder on concerns that China could help Russia evade global sanctions
Author and Atlas Organization founder Jonathan D.T. Ward joined "Mornings with Maria" on Tuesday to discuss US sanctions against China amid their support for Russia. During the segment, Ward said he believes the U.S. needs to adopt a "wider view" of these sanctions.
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JONATHAN D.T. WARD: I think the United States has already been in a process of a gradual sort of smaller scale sanctions on China. I mean, you've seen a wide variety of companies wind up on the entities list, on investment bans, that sort of thing, but I think it just has to go farther on that. I mean, you have to begin to, I think, take a wider view of sanctions on China. I mean, not just the ones that are involved in civil, you know, human rights abuses and civil-military fusion, but also the ones that are the foundations for their military, enterprise and strategic industries. I mean, there are a whole lot of, you know, you can buy into the Chinese shipbuilding industrial base on iShares. I mean, that shouldn't be possible. You know, you can buy into state banks that are funding the Belt and Road too through BlackRock, and that shouldn't be possible, either. These sorts of things, the flow of American capital into China is still going full force. That's where I would start.
I think that technology and export controls could be much stronger. And certainly, anything that actually happens in the context of this invasion is very important. If, for example, Chinese state banks are buying equity positions in Russian energy companies, those state banks need to go under sanction. You know, that kind of thing offers, you know, I think, some real opportunities to go broader, you know, the state-owned Assets Supervision Commission basically that the place where the major state-owned enterprises all reside and they all work directly for the Communist Party, that's what they are. Those are China's strategic instruments and the United States could take a much broader view of what those mean in our contest with them and also the potential role that they're playing here with Russia. I mean, we're going to start to see that because China has really taken a side here on this crisis. They're supporting Russia tacitly, they're recycling Kremlin propaganda, they're doing all of that. So I think the idea that they're going to play this peacemaker is just for naive diplomats. I mean, that's not realistic. But we are going to see them take supporting actions for their strategic partner. And I think watching that carefully and making sure that we take action to counter that is going to be potentially a very rich space for action.
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