(Bloomberg) — The U.S. should re-examine all aspects of its relationship with China, including investment, trade, defense and intelligence capabilities, according to two separate reports issued Wednesday by congressional panels — one controlled by Democrats, the other by Republicans.
Congressional GOP members urged key industries to shift supply chains away from China and called for stricter limits on some China-related investments, according to the final report from their China Task Force. The group, which Democrats declined to join, called China a “generational threat” akin to the Soviet Union during the Cold War.
That panel also criticized the Chinese Communist Party for human rights violations and an early coronavirus response that relied on “coverups, arrests and blame-shifting, rather than transparency.”
“For decades, the United States and its allies have been asleep at the wheel,” said the tax force’s chairman, Michael McCaul, a Texas Republican. “Covid created an awakening experience for the American people and the sleeping giant has finally awoken.”
At the same time, a separate report released by the House Intelligence Committee found significant deficiencies in the U.S.’s intelligence capabilities when it comes to China and recommended overhauling the intelligence approach to the country. The panel is led by California Democrat Adam Schiff and includes members of both parties.
“The widespread, if not yet fully understood, global impact of Covid-19 and other transnational events make this both an opportune and urgent moment to