Lankford Counters Communist China’s Predatory Economic Tactics
WASHINGTON, DC – Senator James Lankford (R-OK) led the introduction of the Belt & Road Oversight Act to strengthen America’s ability to counter the Chinese Communist Party’s economic coercion and predatory lending tactics.
“Communist China is using debt-trap diplomacy to erode the sovereignty of debtor nations and challenge American leadership in critical regions around the world. The United States cannot ignore how China destabilizes developing countries to advance the CCP’s military ambitions and malign agenda. The US should counter China’s predatory lending and promote freedom to people living under China’s exploitation,” said Lankford.
Through the predatory lending practices of the Belt and Road Initiative (BRI), Beijing is exploiting poor and developing countries. By coercing vulnerable nations to become indebted to China, Chinese Communist Party leadership is able to advance their own goals—militarily and economically. This puts the economic stability and national security of America and our allies at risk.
Lankford’s Belt & Road Oversight Act establishes a Country China Officer at each embassy worldwide tasked with tracking China’s investment, particularly investment in critical infrastructure funded through predatory lending practices. The bill also creates new tools to counter China’s economic coercion and bolster alternative financing that fosters respect for international sovereignty.
For years Lankford has called for resilience against China’s economic coercion, seeking to address ongoing dependence on China for everything from farmland purchases to pharmaceuticals to critical minerals. Lankford has championed the SOIL Act, which targets international land purchases from countries that threaten national security. Lankford led the bipartisan Quad Critical Minerals Partnership Act and recently introduced new legislation to reduce the US’ reliance on China for critical minerals. Lankford continues to call out the Biden Administration’s soft approach to China and encourages the Administration to directly address with China their human rights and religious freedom abuses.