Our Response to China Must Be Overwhelming, Not 'Proportional'
by Gordon G. Chang • October 30, 2023 at 5:00 am
Biden meeting Xi at this time would be a mistake.... Anything Beijing wants cannot, by definition, be good for America.
How, exactly, can Biden "stabilize relations" with a militant regime that has declared America to be its enemy?
Worse, China's regime thinks it is already at war with the U.S.
Now, therefore, is the time to use all the resources of the federal government. The Secretary of the Treasury, for instance, can designate, pursuant to Section 311 of the USA PATRIOT Act, Chinese banks to be of "primary money laundering concern." Designated banks can no longer clear dollar transactions through New York, where every dollar transaction clears.
Such designations would put the large state banks out of business everywhere outside China. If large state banks were to fail, so would China's state-dominated banking system. The failure of the banking system would undoubtedly mean the end of the Chinese economy and financial system. The end of the political system would soon follow.
On October 24, a Chinese J-11 fighter jet recklessly maneuvered within ten feet of a U.S. Air Force B-52 bomber flying in international airspace over the South China Sea, endangering the crew of the American plane. There have been provocative Chinese intercepts of U.S. planes and vessels in the global commons for decades, but now the pace of the belligerent actions has increased.
What was the response of the Biden administration?
President Joe Biden has desperately tried to arrange a meeting with Chinese ruler Xi Jinping. They have finally agreed in principle to meet next month in San Francisco during the Asia-Pacific Economic Cooperation summit. The agreement came during the just-concluded visit of Chinese Foreign Minister Wang Yi to Washington. Wang met with Biden, Secretary of State Antony Blinken, and National Security Adviser Jake Sullivan.
Biden meeting Xi at this time would be a mistake. There is nothing good that can come of this discussion.
