Austin News

U.S. Senator John Cornyn has called for immediate action regarding outbound investment in countries deemed as concerns, such as China. Speaking on the Senate floor, Cornyn emphasized the national security risks associated with ignoring transparency in outbound investments. He urged his fellow lawmakers to support provisions he has put forward with Senator Bob Casey in the government funding bill.

Cornyn stated, "No one can claim to be serious about the China threat while turning a blind eye toward outbound investment transparency." He expressed disappointment over the lack of progress by both the House and Senate on this issue, which he considers crucial for strategic competition with China's Communist Party.

He warned against delaying action, saying, "We simply cannot wait another year to address this issue." Highlighting potential dangers, Cornyn remarked, "It’s simply foolish for the United States to help China to modernize its military and create this very dangerous scenario by investing in technologies that could be used, ultimately, to kill American soldiers."

Cornyn further noted that addressing outbound investment transparency is necessary and delaying it would only make it more challenging. Despite current setbacks, he remains hopeful for advancements before year's end: "I remain optimistic that progress will be made on this critical matter before the end of the year."