Geostrategic challenge with the rise of china poses for the United States, not just today but in the future. The communist party led people were public of china through unfair trade practices, intellectual property theft, market manipulation and very prominently, in my view, nonreciprocal treatment, not just in the economic round but in many realms i has been a fore in the Global Economy that undercuts the resiliency and strength of the u. S. Economy. China has been one of the worlds fastestgrowing economies averaging close to 10 growth from 19792015. In 2014 china overtook the United States ass the Worlds Largest economy purchasing power parity basis according to the International Monetary fund. I believe that there is a strong eipartisan interest hopefully we will see that today in establishing a longterm economic United States strategy with our allies that focuses on reciprocity, intellectual property theft, and ultimately, from the United States perspective out competing the chines
Good morning. This hearing will now come to order. I am pleased to welcome our distinguished panel of Witnesses Today is the economic and security subcommittee. He focuses on the very important topic that i think has a lot of bipartisan interest in. And that is the economic and geostrategic challenge that the rise of china poses for the United States. Much as today, but in the future. China, communist party, Peoples Republic Party of china. Unfair trade practices, intellectual property theft and market manipulation and very prominently in my view, m nonreciprocal treatment. Not just an economic room but in many realms. It has been a force in the Global Economy that undercuts the resiliency and strength of the u. S. Economy. China has been one of the worlds Fastest Growing economies. Averaging close to 10 percent growth from 1979 to 2016. In 2014, china was the Worlds Largest economy and nursing power bases according to the international monetary. I believe there is a strong bipartisan
Activity and turmoil going on around us. Many of us are back in washington today. Were holding this committee virtually in compliance with the regulations for Remote Committee proceedings pursuant to House Resolution 965. This authority has allowed us to continue to do our work on behalf of the American People, while keeping our staff, families, and the Broader Community safe. We have all started to become familiar with navigating this technology, i do want to remind members of a few procedures. First, consistent with the regulations, the committee will keep microphones muted to limit background noise. Members are responsible for unmuting themselves when they seek recognition or when recognized for their five minutes. Members and witnesses must have their cameras on at all times. Weve got to keep track of you even if you step away from the proceedings. Please leave your camera on rather than logging out. Finally, as you know, we may have votes during todays hearing. It looks like theyr
House hearing on the lessons being learned from the coronavirus and how its affecting critical supply chains. Live coverage here on cspan3. Community safe, all started to become familiar with navigating this technology, i do want to remind members of a few procedures. First, consistent with the regulations, the committee will keep microphones muted to limit background noise. Members are responsible for unmuting themselves when they seek recognition or when recognized for their five minutes. Members and witnesses must have their cameras on at all times. Weve got to keep track of you even if you step away from the proceedings. Please leave your camera on rather than logging out. Finally as you know, we may have votes during todays hearing. It looks like theyre going to be later. If we do have votes, it would be my intention not to recess. Members should vote when their group is up and come back immediately. If your turn for questioning comes up while youve stepped away, i will get back t
Onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 1 00 a. M. In hong kong. Welcome to bloomberg markets. Here are the top stories we are following from around the world. Ecb president Christine Lagarde five to support the euro economic recovery from coronavirus all not. She vows to maintain the flood of liquidity that has so far calmed markets. Morgan stanley wraps up the week for bank earnings. Big gains for the trading desk. Helped thedfall that group survived the brunt of the pandemic. The u. S. ,ntioned, u. K. , and cannot say russian state intelligence is hacking into research enters working to develop a covid19 vaccine. We will dig into the reports. Lets get a quick check on the markets. Certainly a risk off day. 500 off of itsp lows of the day, still down about two thirds of a percent. The dollar index, not too much rea