Attorney General Bill Barr ratcheted up the U.S. confrontation with China this week, accusing Hollywood and the tech industry of caving to Chinese censorship pressure in exchange for short-term profits.
“If Disney and other American corporations continue to bow to Beijing, they risk undermining both their own future competitiveness and prosperity, as well as the classical liberal order that as allowed them to thrive,” Barr said during a Thursday speech in Michigan, where he called out Apple for removing a news site from its app store in China after the government complained about it, and criticized Disney for giving Communists a role in managing Shanghai Disney.
But China hawks familiar with the finer details of U.S. labor law argue the Trump administration has the power to do far more than name and shame U.S. companies that opt to work with Beijing in order to gain access to China’s vast consumer market. The Labor Department in the next few weeks has the opportunity to cut off a main spigot of U.S. funds flowing to China by barring private U.S. retirement plans from investing in Chinese companies, an unprecedented step that would cost China billions in U.S. investment…
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