The U.S.-China Economic and Security Review Commission’s first hearing in 2020 will examine the internal dynamics of China’s financial system; China’s increasingly rapid integration into global financial markets; and the risks this poses to U.S. investors and savers. The first Panel examines China’s overall capital requirements and systemic challenges to raising new capital. The second panel identifies and evaluates methods different actors in the Chinese economy use to raise capital and access financing. The third panel is designed to assess the exposure of U.S. investors to the growing integration of Chinese securities into global capital markets, with a particular emphasis on index inclusions and Chinese companies’ engagement with U.S. equities markets.
The hearing will review key developments in the U.S.-China relationship in 2019. Panel 1 will evaluate developments in China’s political economy and the impact of U.S.-China trade frictions on the Chinese economy. Panel 2 will assess the implications of Chinese military activities and modernization in 2019 for the United States and U.S. allies and partners. Panel 3 will review the implications of economic, political, and security developments between China and Taiwan for regional security, and explore the escalating situation in Hong Kong.
The hearing will assess China’s role in global health, pharmaceuticals, and medical products. In addition, it will examine the activities of Chinese health and biotech firms in the United States, and U.S. access to China’s health market. Finally, the hearing will consider the implications for U.S. public health and national security of growing U.S. dependence on Chinese health products.
In his report to the 19th Congress of the Chinese Communist Party, General Secretary Xi Jinping declared that China would complete the modernization of its armed forces by 2035 and transform them into “world-class forces” by the middle of the 21st century. Xi’s vision for the composition and mix of capabilities that would allow the People’s Liberation Army to be judged to be a “world-class” military is unknown. Will it be a force with global expeditionary capability, mimicking the United States, or an overwhelming regional force reminiscent of Imperial Japan in 1941? Or, as the two are not necessarily mutually exclusive, could it be both? This hearing will explore what the implications of a world-class Chinese military might be for the United States and its allies and partners, with the goal to begin a public dialogue on this topic and develop recommendations for Congress on how the United States might best protect its interests in the face of a highly-capable Chinese competitor.
Technology, Trade, and Military-Civil Fusion: China’s Pursuit of Artificial Intelligence, New Materials, and New Energy
This hearing will examine China’s development of artificial intelligence, new materials, and energy storage, renewable energy, and nuclear power. It will assess China’s capabilities in producing and commercializing these technologies vis-à-vis the United States and its ambitions to export these technologies and shape their global governance in ways that disadvantage the United States. The hearing will also consider China’s potential military application of these technologies and strategic implications for the United States.
This hearing will examine the implications for the United States of a commercial, scientific, diplomatic, and military strategic competition with China. The hearing will begin with two individual panels comprising a strategic planning perspective on competition with China in space and a current Administration official’s assessment of the balance of power in space and China’s current space-based surveillance capabilities, respectively. The first full panel will examine China’s pursuit of global space leadership, focusing on China’s international space partnerships, its views on international law in space, and its exploration ambitions. The second panel will address the role of military-civil fusion in China’s space ambitions, including the role of military-civil fusion in context of China’s national space goals, U.S. competition with Chinese companies in the international satellite industry, and the adequacy of U.S. export controls. Finally, the third panel will examine China’s military space activities, focusing on its national military space goals and doctrine, its military space and counterspace capabilities, and the intersection of cyber and space in China’s strategy and operations.
An Emerging China-Russia Axis? Implications for the United States in an Era of Strategic Competition
This hearing will explore the China-Russia relationship and its implications for U.S. national security interests. The first panel will examine areas of strategic, military, and economic cooperation between China and Russia, and the second panel will assess the potential limits and barriers to cooperation in these areas. The third panel examines current and future China-Russia interaction in Central Asia, the Middle East, and the Arctic.
The U.S.-China Economic and Security Review Commission’s second hearing of 2019 seeks to evaluate two sets of relationships. In the first panel, hearing witnesses will review Chinese companies’ participation in the U.S. economy, and in the second panel, hearing witnesses will review U.S. companies’ participation in the Chinese economy. Both panels will assess implications of this participation for U.S. businesses, workers, consumers, and investors.
This hearing will examine the internal and external challenges the Chinese Communist Party (CCP) faces in its attempts to consolidate power at home and increase its influence abroad. The first panel is designed to explore the implications of President Xi and the CCP’s tightening control over economic and security policy making. The second panel examines China’s domestic challenges, considering China’s economic weakness and financial sector risks, the risks and benefits of China’s state-led economic policies, and the country’s reliance on a number of key foreign technologies. The third panel assesses China’s external challenges, focusing on the People’s Liberation Army’s shortcomings and the limits of Chinese soft, sharp, and hard power.
This hearing is intended to explore U.S. policy options available to address Chinese market distortions. The first panel, “A Coordinated Policy Response to Chinese State Capitalism,” will address industrial policy challenges like subsidies, price distortions, and investment restrictions. The second panel, “A Coordinated Policy Response to China’s Techno-nationalism,” will focus on challenges from China’s push to develop domestic-led intellectual property, including technology transfer, IP or data theft, and restrictions on cross-border data flows.