Newt Gingrich: EXIM as a political tool against China
(Newsweek, Washington, 21 October 2019) Newt Gingrich - Opinion (How the Republican right sees EXIM): In the age of Huawei, the Belt and Road Initiative, and China's state-sponsored companies, we need the U.S. Export-Import (EXIM) Bank more than ever. The EXIM Bank, an independent agency, provides government-backed financing for those looking to export goods and services from the United States. Since the 1930s, it has helped grow the U.S. economy and foil unfairly aggressive foreign competitors. However, due mostly to recent politics, it hasn't been fully functioning since 2014. This needs to change - for many reasons. First, according to Chinese Defense Minister Wei Fenghe, the country's Belt and Road Initiative (BRI) is absolutely a part of its military plans... This is a big deal. According to EXIM Bank reports, the BRI system includes about 30 percent of the world's gross domestic product and impacts more than 66 percent of the world's population.