Biden admin not sending ‘clear signals’ on China relations, expert says
Atlas Organization founder Jonathan D.T. Ward discusses Ray Dalio’s commentary on U.S.-China relations, Treasury Secretary Yellen’s supply chain concerns and the Biden admin indicting Chinese firms allegedly linked to fentanyl trafficking.
Billionaire investor and hedge fund manager Ray Dalio issued a bold warning Tuesday, urging that the U.S.’ relationship with China is “on the brink of red lines.”
The “breaking point,” as noted by Dalio during his speech at the Greenwich Economic Forum, would be if the U.S. were to support Taiwan’s independence, which would be the equivalent of a “declaration of war.”
During an appearance on “Mornings with Maria,” Atlas Organization founder Jonathan D.T. Ward bolstered Dalio’s warning, while also noting that he is a well-known “apologist” for China’s human rights “atrocities.”
Expressing a level of risk here that may be beneficial in the finance community in the sense that if people are listening to him and starting to hear that China’s a riskier destination, I think that’s very important,” he continued. “People do listen to Dalio. I think they’ve listened to him for the wrong reasons for a lot of the time, but now at this point, I think he’s just saying, ‘Look, this is all getting very risky.’”
Sen. Rick Scott, R-Fla., discusses wanting to cut off funding for congressional trips to China, the Biden administration’s reversal on the border wall, the House speakership battle and Congress’ appropriations bills.
Key members from the Biden administration have also started to reverse course on its energy policy, including Treasury Secretary Janet Yellen, who has said that the U.S. has become overly dependent on China.
“I think Yellen is someone who seems to be going up the learning curve here a bit. But in the same speech, it was at the Fortune CEO summit, she said we don’t want decoupling with China. So, I think there’s just a lack of clarity in her understanding of the China situation,” Ward continued.
“She’s not sending clear signals to the business community, which you would need to do as the treasury secretary. And this is one of the most important strategic departments in an economic context. It’s vital to national security, really. And to see her sort of going back and forth in terms of what she understands, I think is concerning. But at least it’s showing some of the risks to the business community, if not clear direction.”
FOX Business host Maria Bartiromo raised an additional point of concern stemming from China’s growing aggression: drug smuggling.
As noted by Bartiromo, the Department of Justice has announced indictments and sanctions against eight China-based companies and 12 Chinese nationals for their role in the alleged trafficking of precursors used to make fentanyl. The Treasury Department also sanctioned 28 people and entities that were allegedly part of a drug trafficking network.
“Apparently this is part of what’s now called a whole-of-government approach to the fentanyl crisis. So that’s incredibly important,” Ward began.
Source : FOX News
