China Expert Gordon Chang on US Leverage, Money Laundering, and Beijing's Global Support

US Leverage in Trade Negotiations

• 🎯 The US possesses significant leverage points in its trade negotiations with China, including the IPO market and products China depends on.
• 🤝 While the US aims to derisk, not decouple, from China, it must actively use its leverage, as China has effectively used the magnet card.
• ⚠️ A key concern is that China uses trade proceeds to build its military, necessitating a trade deal that is one-sided in favor of the US.

Addressing China's Global Support Network

• 💰 Neville Roy Singham, an American citizen based in Shanghai and a self-declared Maoist, is accused of funding CCP-linked radical groups and contributing to political division in the US.
• 🏦 The US should investigate and potentially freeze Singham's assets and, more importantly, target Chinese banks involved in money laundering.
• 🚫 Chinese banks are implicated in laundering money for fentanyl gangs, and their involvement with Iran and North Korea makes them primary money laundering concerns.

China's Role in International Adversaries

• 📈 China has a long-standing relationship with Iran, providing support for its nuclear weapons program and weapons parts, as well as backing proxies like Hamas, Hezbollah, and the Houthi militia.
• 💥 China's support is crucial for Iran's ability to act as it does, including its involvement in the October 7th events, with China providing nearly everything Iran needs except soldiers.
• 🚫 The US can break this relationship by targeting the financial flows between China and Iran, potentially using designations under the USA Patriot Act to restrict Chinese banks' access to dollars.