US Congress Examines Role of EXIM Amid Intensifying Economic Competition with China

(US Congress, Washington, 24 June 2024) The US Congress House Financial Services Subcommittee Chairman on National Security, Illicit Finance, and International Financial Institutions, led by Chairman Blaine Luetkemeyer (MO-03), held a hearing entitled “The Role of the Export-Import (Ex-Im) Bank of the United States Amid Intensifying Economic Competition with China.” He noted "“That threat is the bid for global economic domination posed by Communist China. Unlike the United States, the CCP does not subscribe to the rules-based order that has governed trade and export credit financing for nearly a century. The CCP demonstrates daily that it plays by its own rules and will do anything to gain footholds in strategic sectors vital to security. China’s highly aggressive actions in export credit financing blend beyond economic advancement and are clearly an effort to enhance its global power and economic might. It is critical, the United States compete and win in this arena against China."