The Biden Administration recently launched an assault on large American corporations while claiming an executive order will promote “competition.” It doesn’t take a detective to deduce the White House’s latest maneuver does little to get people back to work or grow the economy. However, the directive sent to wide-reaching federal agencies cracks the door a little wider for China’s government-owned corporations to expand their market share.
“Capitalism without competition isn’t capitalism. It’s exploitation. Without healthy competition, big players can change and charge whatever they want, and treat you however they want,” Biden reportedly said from scripted remarks. “And for too many Americans that means accepting a bad deal for things that you can’t go without.”
What precisely are the liberal string-pullers referring to in terms of U.S. businesses? The executive order does nothing to curb China from stealing U.S. intellectual property and selling Americans back the innovations they invented. Sadly, it tosses small companies into a veritable dog-fighting pit to tear at financial scraps just a year or two removed from former President Donald Trump beating China in a trade war and restoring the country to full employment.
“Today’s executive order is built on the flawed belief that our economy is over-concentrated, stagnant, and fails to generate private investment needed to spur innovation,” U.S. Chamber of Commerce official Neil Bradley reportedly stated. “Such broadsided claims are out of touch with reality, as our economy has proven to be resilient and remains the envy of the world.”
Consider the following items outlined in the overly broad order.
- Tasks the Federal Communications Commission with preventing landlords from negotiating apartment complex deals with broadband service providers.
- Scrutinizes major U.S. internet platforms that buy smaller companies, but not communist acquisitions of popular apps.
- Pushes the U.S. Department of Agriculture to consider reducing farmers’ ability to use the label “Product of USA.”
- Increases farmer’s markets opportunities without limiting sales of cheap Chinese imports.
- Seeks to reduce large American food processing plants in favor of smaller ones. This move would likely drive up the cost of meats, chicken, and other products processed in the U.S.
- Increases Chinese opportunities to sell farmers tools and diagnostic devices not manufactured in the U.S.
The Biden Administration has effectively brought the full weight of the federal government to bear in an effort to force American businesses to fight for market share in a fashion that causes prices to rise. The inevitable outcome will be China’s government-owned manufacturing plants flooding the country with another wave of cheap goods.
“Some of the actions announced today are solutions in search of a problem,” Jay Timmons, president and CEO of the National Association of Manufacturers, reportedly said. “They threaten to undo our progress by undermining free markets and are premised on the false notion that our workers are not positioned for success.”
It’s a clever race-to-the-bottom policy that comes at a time when First Son Hunter Biden is poised to receive millions in backdoor Chinese Communist Party brides for his amateur artworks.