[House Hearing, 118 Congress]
[From the U.S. Government Publishing Office]




               COUNTERING MALIGN PRC INFLUENCE IN EUROPE

=======================================================================




                                HEARING

                               BEFORE THE

                         SUBCOMMITTEE ON EUROPE

                                 OF THE

                      COMMITTEE ON FOREIGN AFFAIRS
                     U.S. HOUSE OF REPRESENTATIVES

                    ONE HUNDRED EIGHTEENTH CONGRESS

                             SECOND SESSION
                               __________

                           September 11, 2024
                               __________

                           Serial No. 118-130
                               __________

        Printed for the use of the Committee on Foreign Affairs

        
        
        
        
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Available: http://www.foreignaffairs.house.gov/, http://docs.house.gov, 

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                               ______
                                 

                 U.S. GOVERNMENT PUBLISHING OFFICE

56-820 PDF                WASHINGTON : 2026

                     






                      COMMITTEE ON FOREIGN AFFAIRS

                   MICHAEL T. McCAUL, Texas, Chairman
                   
CHRISTOPHER H. SMITH, New Jersey     GREGORY MEEKS, New York, Ranking 
JOE WILSON, South Carolina               Member
SCOTT PERRY, Pennsylvania            BRAD SHERMAN, California
DARRELL ISSA, California             GERALD E. CONNOLLY, Virginia
ANN WAGNER, Missouri                 WILLIAM KEATING, Massachusetts
BRIAN MAST, Florida                  AMI BERA, California
TIM BURCHETT, Tennessee              JOAQUIN CASTRO, Texas
MARK E. GREEN, Tennessee             DINA TITUS, Nevada
ANDY BARR, Kentucky                  TED LIEU, California
RONNY JACKSON, Texas                 SUSAN WILD, Pennsylvania
YOUNG KIM, California                DEAN PHILLIPS, Minnesota
MARIA ELVIRA SALAZAR, Florida        COLIN ALLRED, Texas
BILL HUIZENGA, Michigan              ANDY KIM, New Jersey
AUMUA AMATA COLEMAN RADEWAGEN,       SARA JACOBS, California
    American Samoa                   KATHY MANNING, North Carolina
FRENCH HILL, Arkansas                SHEILA CHERFILUS-McCORMICK, 
WARREN DAVIDSON, Ohio                    Florida
JIM BAIRD, Indiana                   GREG STANTON, Arizona
MICHAEL WALTZ, Florida               MADELEINE DEAN, Pennsylvania
THOMAS KEAN, JR., New Jersey         JARED MOSKOWITZ, Florida
MICHAEL LAWLER, New York             JONATHAN JACKSON, Illinois
CORY MILLS, Florida                  SYDNEY KAMLAGER-DOVE, California
RICH McCORMICK, Georgia              JIM COSTA, California
NATHANIEL MORAN, Texas               JASON CROW, Colorado
JOHN JAMES, Michigan                 KWEISI MFUME, Maryland
KEITH SELF, Texas                    BRAD SCHNEIDER, Illinois
RYAN K. ZINKE, Montana
JAMES C. MOYLAN, Guam

                Brendan Shields, Majority Staff Director

                Sophia Lafargue, Minority Staff Director
                
                                 ------                                

                         SUBCOMMITTEE ON EUROPE

                   THOMAS KEAN, New Jersey, Chairman
JOE WILSON, South Carolina           WILLIAM KEATING, Massachusetts, 
DARRELL ISSA, California                 Ranking Member
ANN WAGNER, Missouri                 DINA TITUS, Nevada
BILL HUIZENGA, Michigan              MADELEINE DEAN, Pennsylvania
MICHAEL LAWLER, New York             JIM COSTA, California
NATHANIEL MORAN, Texas               SUSAN WILD, Pennsylvania
KEITH SELF, Texas                    GABRIEL AMO, Rhode Island








                         C  O  N  T  E  N  T  S

                              ----------                              

                            REPRESENTATIVES

                                                                   Page
Opening Statement of Subcommittee Chairman Thomas Kean, Jr.......     1
Opening Statement of Subcommittee Ranking Member William Keating.     2

                               WITNESSES

Statement of Dalibor Rohac, Senior Fellow, The American 
  Enterprise Institute...........................................     4
  Prepared Statement.............................................     7
Statement of Peter Rough, Senior Fellow and Director of The 
  Center on Europe and Eurasia, Hudson Institute.................    20
  Prepared Statement.............................................    22
Statement of Ivana Karaskova, China Team Lead, Association for 
  International Affairs..........................................    30
  Prepared Statement.............................................    32

                                APPENDIX

Hearing Notice...................................................    52
Hearing Minutes..................................................    53
Hearing Attendance...............................................    54

                        Questions For The Record

Questions submitted to Ivana Karaskova from Rep. Self............    55
Questions submitted to Ivana Karaskova from Rep. Wagner..........    59
Questions submitted to Dalibor Rohac from Rep. Kean..............    61
Questions submitted to Dalibor Rohac from Rep. Self..............    64
Questions submitted to Dalibor Rohac from Rep. Wagner............    67
Questions submitted to Peter Rough from Rep. Kean................    69
Questions submitted to Peter Rough from Rep. Wagner..............    72








 
               COUNTERING MALIGN PRC INFLUENCE IN EUROPE

                              ----------                              


                     Wednesday, September 11, 2024

                  House of Representatives,
                            Subcommittee on Europe,
                              Committee on Foreign Affairs,
                                                    Washington, DC.

    The subcommittee met, pursuant to notice, at 2:03 p.m., in 
room 2172, Rayburn House Office Building, Hon. Thomas Kean, Jr. 
(chairman of the subcommittee) presiding.
    Mr. Kean [presiding]. The Subcommittee on Europe of the 
House Foreign Affairs Committee will come to order.
    Before we begin, I must note that, sadly, we will not be 
joined today by our colleague from South Carolina, Mr. Wilson. 
Joe took ill last night at an event and is currently in the 
hospital. By all accounts, he is recovering and conscious. 
Please join me in praying for a full and speedy recovery for 
Mr. Wilson.
    [Prayer.]
    Thank you.
    The purpose of this hearing is to examine the PRC's malign 
activities in Europe, as well as discuss what U.S. and European 
policymakers can and are doing to counter this influence.
    I now recognize myself for an opening statement.

         OPENING STATEMENT OF CHAIRMAN THOMAS KEAN JR.

    For decades, the Transatlantic Alliance has been the 
cornerstone of American national security and a force 
multiplier for preserving the Western rules-based order. From 
the global threat of Soviet imperialism to the evil that struck 
this Nation on 9/11, 23 years ago today, our alliances faced 
countless threats together and remain strong.
    However, the threats are multiplied now. Once challenged 
only by the military and political ambitions of the Soviet 
Union, our alliance now faces the malign activities of both the 
Russian Federation as well as the People's Republic of China.
    Confronting China's aggression and coercion will be perhaps 
the defining challenge for the Western world in the 21st 
century. The United States cannot confront this challenge 
alone. As before, we need our European allies with us.
    Since 2019, the European Union has considered China to be a 
systemic rival. However, it also considers China to be a 
partner for cooperation and economic competitor. There is an 
obvious tension here. How can China be both a partner for 
cooperation, but also a systemic rival?
    Thankfully, it appears that some in Europe are willing to 
treat China like the rival that it is. China's significant 
support of Russia's full-scale invasion of Ukraine has led some 
in Europe to rightfully reevaluate their relationship with the 
PRC.
    The PRC is providing Russia with enormous quantities of 
dual-use goods, including semiconductors that support Russian 
military activities in Ukraine. It has also proved to be a 
willing accomplice in aiding Russia's attempt to circumvent 
Western sanctions. In the words of numerous officials in the 
Biden-Harris administration, this assistance from China has 
enabled Russia to quote, ``reconstitute its military.''
    Chinese troops may not be on the ground fighting alongside 
Russians, but China's aid to Russia's defense industrial base 
is undoubtedly enabling Putin's genocidal war of aggression to 
continue. This war is the greatest threat to the continent's 
security since the fall of the Berlin Wall, and many in Europe 
are deeply concerned that China has been aiding and abetting 
for over 2 years.
    Despite this, Hungary continues to be a key strategic 
partner for China. It is an active participant in China's Belt 
and Road Initiative, serving as a crucial link in the 
logistics-transport corridor between China and Europe. Hungary 
has even allowed Chinese police to operate inside Budapest, 
allegedly to help Hungary deal with increasing volumes of 
tourists from China.
    In Serbia, the government recently signed 28 cooperation 
agreements with the PRC ranging from trade to media 
cooperation. Serbia is also perhaps a large buyer of PRC 
military equipment on the European continent.
    Xi's motives are clear. He wants to create more economic 
and political dependencies among our allies in Europe that 
would strain their ability to respond to future PRC aggression. 
He wants to join Putin in casting doubt on the reliability of 
the United States as an ally, driving a wedge between us and 
Europe and undermining the Transatlantic Alliance as a whole.
    Just as many in Europe have begun standing up to Putin 
since his full-scale invasion of Ukraine, I call on our allies 
in Europe to take the same approach with President Xi. His no-
limits partnership with Putin is a clear threat to the Western 
world and we must stand together to confront it.
    The chair now recognizes the ranking member, the gentleman 
from Massachusetts, Mr. Keating, for any statement that he may 
have.

      OPENING STATEMENT OF RANKING MEMBER WILLIAM KEATING

    Mr. Keating. Thank you, Mr. Chairman, for holding this 
important hearing today.
    And I just want to extend my concern and hope for a swift 
recovery to Representative Joe Wilson. I have found him to be 
among the most trusted bipartisan partners in this committee, 
and particularly, on issues that affect Ukraine, defending 
Ukraine, and Russia's illegal and immoral war of aggression. We 
all hope for a very swift recovery.
    The endured global threat of Chinese malign influence 
represents a grave challenge to U.S. and transatlantic economic 
and national security. This challenge, one more broadly posed 
by authoritarian governments to transatlantic democratic 
states, is not new.
    For decades, the Soviet Union and now Russia, Iran, North 
Korean, and China have sought to undermine European solidarity 
and transatlantic security. Despite China's geographical 
distance, which many European leaders use as an excuse to turn 
a blind eye to Beijing's actions, the People's Republic of 
China with its economic might and its malign coercion, often 
couched as goodwill investment, poses a direct and pressing 
threat to European security.
    Today, Ukraine is at the forefront of Chinese influence in 
Europe. As Ukraine defends its freedom from Russian aggression, 
the Chinese government has become a, quote-unquote, ``decisive 
enabler'' of Russia's illegal war. Just yesterday, it was 
announced that, in exchange for tangible military assistance to 
Russia, the Kremlin is providing Beijing with technologies 
related to submarines and missile capabilities.
    I commend the Biden-Harris administration not only for 
rallying the world to support Ukraine, but also for imposing 
sanctions on Chinese firms and other entities that back 
Russia's war effort. These firms and the Chinese government 
must know their actions will not go unpunished.
    While China's support for Russia often makes headlines, its 
broader economic coercion and political influence campaigns 
across Europe pose serious threats. Nowhere is it more evident 
than in Hungary, where Prime Minister Victor Orban has not only 
welcomed Chinese malign investment into his country, but 
curried favor with Xi Jinping and his dark authoritarian vision 
of a less free and a more hostile global order.
    The Biden-Harris administration and our determined 
Ambassador in Hungary, David Pressman, have made it very clear 
Prime Minister Orban's friendly relations with Xi Jinping pose 
significant dangers. Unfortunately, not everyone shares this 
view of Hungary and Orban's relationship with Xi. As we've 
seen, Donald Trump has called Orban smart and one of the most 
respected of men.
    This is a dangerous and reckless description of a person 
who's not only shuttered the rule of law and civil liberties, 
but also embraced his relationship with China, who so many here 
today in this room know is a threat to us here at home.
    Beyond Hungary, China has been aiming to influence its 
influence in the Western Balkans, particularly in Serbia. 
There, President Vucic has touted Serbia's ironclad friendship 
with China and has acquired Chinese drone and missile systems.
    China's strategic partnerships with various European 
national governments attempt to undermine the European Union's 
derisking policies that seek to reduce dependency on critical 
supply chains and impose more scrutiny on inbound and outbound 
investments.
    While Hungary and Serbia deepen their ties with the Chinese 
government, countries like Lithuania and the Czech Republic 
have been clear-eyed about the national security risks 
associated with increased Chinese investment. Other countries 
like Ireland have taken important steps to bolster the inbound 
investment screening mechanisms, a crucial measure to identify 
and address malign investments.
    At the same time, many European leaders recognize Beijing's 
support for the Kremlin's war in Ukraine for what it is, two 
authoritarian governments aiming to undermine Ukraine's 
democratic sovereignty. We must be clear about the risk of 
failing to confront Beijing's malign influence in Europe. China 
is constantly observing how Europe responds to Russia's 
invasion of Ukraine. Europe must remain aware of the risks and 
the potential threats to the continent's stability, should the 
Chinese military escalate its aggressive stance in the South 
China Sea as well.
    The conflict in Ukraine and the potential contingency in 
Taiwan are inextricably linked, and I have no doubt that the 
United States and Europe must stand united against any malign 
aggression and investment from China wherever it may occur.
    With that, I look forward to the testimony of our three 
distinguished witnesses on how the United States can further 
educate and work with our European partners about the risks 
associated with Chinese financing and the critical importance 
of continuing to support Ukraine in its fight against Russian 
aggression.
    Thank you and I yield back.
    Mr. Kean. Thank you, Congressman Keating.
    Other members of the subcommittee are reminded that opening 
statements may be submitted for the record.
    Mr. Kean. We are pleased to have a panel of distinguished 
witnesses before us today on this important topic.
    Dr. Dalibor Rohac is a senior fellow at the American 
Enterprise Institute.
    Dr. Peter Rough is a senior fellow and Director of the 
Center on Europe and Eurasia at the Hudson Institute.
    And finally, Dr. Ivana Karaskova is the China team lead at 
the Association for International Affairs.
    Thank you for being here today.
    Your full statement will be made part of the record, and I 
will ask you to keep your verbal remarks to 5 minutes in order 
to allow time for member questions.
    I now recognize Dr. Rohac for his opening statement.

                   STATEMENT OF DALIBOR ROHAC

    Mr. Rohac. Chairman Kean, Ranking Member Keating, members 
of the subcommittee, thank you for this opportunity to address 
you on this important subject today.
    My work at AEI focuses on the political economy of Central 
and Eastern Europe and on the transatlantic partnership on 
which China has been casting an increasingly larger shadow in 
recent years, especially in the wake of Russia's full-scale 
invasion of Ukraine.
    My remarks provide a brief summary of my written statement 
which I submitted for the record, which focuses on China's 
influence in Central and Eastern Europe proper.
    The regional picture in Central and Eastern Europe is as 
complicated and as contradictory at times as the wider European 
one, where the EU has been simultaneously seeing China as a 
negotiating partner, as a competitor, and as a systemic rival.
    Some countries of the region, most notably, Lithuania and 
the Czech Republic, have aligned themselves fully with the 
United States and our Indo-Pacific allies on the subject. 
Speakers of both chambers of the Czech Parliament have visited 
Taiwan on high-profile visits, angering the CCP. Lithuania has 
suffered an import ban from China following an upgrade of its 
old relations with Taiwan.
    On the opposite side of the spectrum, Hungary and Serbia 
have been deepening their ties with China. Viktor Orban sees 
Hungary as a pillar of the Belt and Road Initiative. He 
famously rebuked the Trump administration's 5G initiative back 
in 2019.
    Just last year, China was the largest foreign investor in 
Hungary, accounting for as much as 44 percent of all Chinese 
FDI in Europe. CATL, a major Chinese battery manufacturer, is 
planning to open a new battery plant in the southern-eastern 
city of Debrecen, worth up to $8 million, which would be the 
largest facility of its kind in Europe. And Hungary borrowed a 
billion euros from Chinese banks, again, the largest loan of 
its kind in the country. The two countries also concluded a 
very opaque security cooperation agreement.
    In addition to Hungary and France, you may remember that 
Serbia was the third stop on Xi Jinping's European tour this 
year. And Serbia's President Vucic noted that the reverence and 
love that Xi ``encounters in our Serbia will not be found 
anywhere else.''
    Over the years, China has invested into steel mills, 
mining, and the automotive sector in Serbia, in addition to 
large-scale infrastructure projects. Overall, Chinese loans 
have added around 3.7 billion euros to Serbia's public debt. 
Serbia, in addition to security cooperation arrangements with 
China, has purchased Chinese medium-range anti-aircraft missile 
systems and Chinese drones. And in 2022, China was the largest 
supplier to the Serbian military.
    Now, these cases on the opposite side of the spectrum are 
not exactly representative of the region which, as I said, is 
very diverse and complicated. So, in the Western Balkans, you 
have countries that might have an anti-Western or anti-American 
agenda which, nonetheless, see Chinese loans and investment 
into infrastructure as desirable and tempting.
    China, as a result, now holds 40 percent of Montenegro's 
external public debt; 20 percent of North Macedonia's external 
public debt. In the case of NATO allies, this is a significant 
liability and potential source of Chinese blackmail.
    Further east, Georgia has now become a key battleground 
State, so to speak, which could be lost, perhaps permanently, 
to Chinese and Russian influence after the election this 
October. The ruling Georgian Dream Party has been reneging on 
its many Western commitments and its location on the so-called 
Middle Corridor makes it an interesting country for China to 
focus on. Anaklia, a deep-sea port that was supposed to be 
developed by a U.S. consortium, was awarded recently to a 
Chinese state-controlled entity instead.
    Now, before I conclude, just to turn to a very different 
example, Poland is a country that has been an exemplary ally to 
the United States, one that has not been a major destination 
for Chinese FDI. Yet, Polish officials will tell you that they 
want to have a constructive relationship with China, and Poland 
was, indeed, among the first countries to join the Asian 
Infrastructure Investment Bank. It is a country that joined the 
BRI initiative.
    And the rationale in Warsaw is that our Polish friends are 
trying to prevent a full Russian-Chinese alignment. This is 
something that really worries them very much. And this is 
something that I think policymakers in Washington have to 
reflect on as well; namely, how to reassure our allies and how 
to sort of show them that China is not the path forward.
    I will be very happy to answer any questions, particularly 
about U.S. policy responses to this challenge going forward. 
But my message is simple: Europe and the Indo-Pacific are 
linked, and the China challenge cannot be addressed adequately 
without engagement with our European friends and allies.
    Thank you.
    [The prepared statement of Mr. Rohac follows:]
    
[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]
    
    Mr. Kean. Thank you, Dr. Rohac.
    I now recognize Mr. Rough for his opening statement.

                    STATEMENT OF PETER ROUGH

    Mr. Rough. Chairman Kean, Ranking Member Keating, and 
members of the subcommittee, thank you for the opportunity to 
testify before you today on this important topic.
    With your permission, I would like to submit my written 
testimony into the record.
    As mentioned, my name is Peter Rough. I'm a senior fellow 
at Hudson Institute, where I serve as Director of the Center 
for Europe and Eurasia. The views expressed in my testimony are 
my own and should not be construed as representing those of 
Hudson.
    Today, there are three--and really only three--major 
economic centers in the world: East Asia, Europe, and North 
America. The Sino-American competition we find ourselves in 
will be determined, in part, by the orientation of Europe. For 
the PRC to succeed, it needs to neutralize Europe on matters 
essential to its interests. It is for this reason that it seeks 
to break the Transatlantic Alliance, which has served as a 
major source of American power for decades.
    The PRC's primary military lever for attacking the European 
order is Russia, with which it has formed an alliance that is 
on display just this week through joint exercises in the Sea of 
Japan.
    To overcome Western sanctions, Russia depends on the PRC 
for dual-use items that are essential for its war effort--from 
machine tools to microelectronics. Russia has also looked to 
the PRC for macroeconomic relieve. In 2023, two-way trade 
between the PRC and the Russian Federation reached a new high 
of 240 billion U.S. dollars.
    It does not appear possible for the Transatlantic Alliance 
to wedge or split Russia from the PRC in the foreseeable 
future. Absent that possibility, the United States should at 
least vector Sino-Russian strategic proximity to our advantage 
with our allies.
    The United States should urge European leaders to put the 
war in Ukraine at the center of their relations with Beijing. 
Europeans have raised the war during their trips to Beijing, 
but often as one issue among many and with trade delegations in 
tow.
    The PRC is seeding the ground for the next great war in 
Europe. Europeans should make clear to Beijing that continued 
support for Russia, including in the supply of strategic dual-
use items, will negatively impact all aspects of Sino-European 
relations.
    The PRC's primary economic lever for undermining European 
prosperity is its export-driven manufacturing model. The 
Chinese Communist Party has utilized State subsidies, 
intellectual property theft, market restrictions, technology 
transfers, regulatory interventions, and currency manipulation 
to gain control over global manufacturing chokepoints and 
supply chains in recent years. Since 2022, it has also profited 
from heavily discounted Russian oil.
    Chinese overcapacity poses a major threat to European 
industry--with all the attendant downsides to social cohesion. 
Europe's experience with solar technology, which it helped 
pioneer, but is now dominated by the PRC, may only be a 
harbinger for the chemicals and auto industries. Today, U.S. 
policymakers should worry as much about European economic 
decline as they should about Europe's trading surplus.
    While forging a fully fledged alternative trading system of 
rule-abiding states that excludes the PRC does not yet have 
sufficient support in the West, but the United States can make 
common cause with Europe against PRC dumping. Wherever 
possible, we should work collaboratively to diversify 
transatlantic supply chains--for example, in critical 
minerals--and counter Chinese dumping, as with electric 
vehicles. Such steps would protect the West against political 
extortion and prepare it for the PRC's ongoing decoupling from 
Western economies.
    The PRC has also worked to insinuate its products, 
instruments, and institutions into Europe's critical 
infrastructure. It has done this through elite capture, cyber 
espionage, key acquisitions, and the use of its diaspora. In 
those areas where it still relies on Western technology, like 
advanced lithography machines, it has also threatened reprisals 
over European export controls.
    It has become common practice for Washington to express 
shock and surprise at the scale of the China challenge--from 
the PRC's construction of vast numbers of missile silos to its 
establishment of extraterritorial police stations on U.S. and 
European soil.
    It is very likely that public reporting on Chinese 
subversive activities in Europe constitutes only the tip of the 
iceberg. From the United Front's Confucius Institutes to 
Chinese-operated critical infrastructure, the PRC is working 
hard to subvert the continent.
    There are tools available to you as policymakers to address 
this, if only we feel the urgency. For example, to counter 
Chinese infrastructure investment in Europe, like at the Port 
of Piraeus, the United States should embrace initiatives like 
the 13-country Three Seas Initiative, which Greece recently 
joined. However, to date, the Biden administration has declined 
to make an equity investment into TSI, and the $300 million 
loan it had set aside for infrastructure sits idle, 
inexplicably.
    Europe is our forward-operating base on the European land 
mass and the source of a great deal of American prosperity. The 
Transatlantic Alliance is one of the keys to winning the Sino-
American competition this century, and I thank the committee 
for shedding light in this topic today.
    I will look forward to answering your questions.
    [The prepared statement of Mr. Rough follows:]
    
[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]
    
    Mr. Kean. Thank you, Mr. Rough.
    I now recognize Dr. Karaskova for her opening statement.


                  STATEMENT OF IVANA KARASKOVA


    Ms. Karaskova. Chair Kean, Ranking Member Keating, 
distinguished members of the Subcommittee on Europe, it is my 
great pleasure and honor to address you today. With your 
permission, I would like to summarize my written testimony.
    My name is Ivana Karaskova. I work as a China team lead at 
the Association for International Affairs, a Prague-based, 
foreign policy think tank and an NGO. And until March this 
year, I also served as a special advisor to the Vice President 
of the European Commission as a Commissioner for values and 
transparency.
    I consulted on the draft of the Defense of Democracy 
package, which should increase the transparency of financial 
flows into Europe and increase the resilience of the European 
societies against malign foreign influence.
    In my today's short address, I would like to focus on three 
key issues: the State of play of Chinese interference in 
Europe; second, Europeans' response, and last, to pursue a way 
forward, including recommendations for the United States.
    China's initially viewed Europe as a potential ally against 
the United States and global governance. It focused on trade, 
technology exchange, and a win-win cooperation. The perception, 
however, changed with the ascent of Xi Jinping into power and 
he gradually initiated ideological reforms which emphasized 
nationalism. This domestic policy led to human rights 
violations, most notably, but not exclusively, in Xinjiang; 
deterioration of freedom in Hong Kong, and mismanagement in 
dealing with the COVID-19 pandemic.
    Internationally, China became more aggressive in the South 
China Sea, East China Sea, and across trade relations. And 
since approximately 2018-2019, Europe became aware of these 
changes and it started to focus on economic profitability, 
also, with raising security concerns.
    So, from the position of seeing China as a potential 
partner, it started to look at China as an economic competitor 
and, also, a strategic rival. The final wake-up call came with 
the war in Ukraine. Especially in Central and Eastern Europe, 
this support led to increasing willingness to treat Russia and 
China as similar actors.
    So, there is a positive development in Europe, I have to 
say, with Ursula von der Leyen last year unveiling her strategy 
of derisking from China, the Critical Raw Materials Act, or the 
Defense of Democracy package, which I already mentioned. Yet, 
these are coming in a relatively slow pace and they are often a 
result of political compromise.
    In general, Europe's response to Chinese influence is 
halted by four different factors:
    A lack of capacity due to prioritization of war in Ukraine 
and Russia. The war in Ukraine has, understandably, made Russia 
the top priority, as it represents a clear and present danger 
to European security. China, in contrast, is seen as a longer-
term strategic challenge, particularly in the economic domain.
    The second problem stems from a lack of political will to 
deal with China. Despite the derisking strategy being announced 
last year, Europe remains interdependent to China. The lack of 
political will to take a more assertive stance toward China has 
created divisions within Europe's response to Beijing.
    While some European countries, like Lithuania and the Czech 
Republic, have adopted more confrontational stances, others, 
such as Germany and France, are more hesitant due to 
significant economic ties and reliance on trade with China.
    There are also outliers, as was mentioned here--Serbia, 
Hungary, but also Slovakia. The risk is that such outlier 
countries may influence others, especially in Central and 
Eastern Europe, where the temptation to secure future economic 
deals with China remains very strong. As a result, Europe's 
collective response to China is fragmented.
    The third problem lies in limited expertise on China within 
European countries, their ministries, and also, 
counterintelligence services.
    And finally, the European public perceives China as a 
distant threat, shown by all public surveys we have in our 
depository. So, there is a rather limited popular demand for 
tougher actions.
    Moving forward, strengthening Europe's resilience to 
Chinese influence will require a more coordinated European-led 
effort with an emphasis on internal capacity-building and 
strategic independence.
    The United States, as well as other like-minded partners, 
such Japan, Australia, or South Korea, can help in ensuring 
best practices, showing understanding for European economic 
interests, and coordinating cyber defense efforts.
    The United States can play a significant role in addressing 
the challenges posed by outlier governments in Europe, such as 
those in Hungary, Serbia, and increasingly, Slovakia. The 
United States should reassure these governments that they can 
expect continent investments and economic opportunities from 
Europe and the United States.
    On the other hand, it must communicate the red lines and 
that certain behaviors will not be tolerated.
    The United States should recognize that China positions 
within the European governments could change quickly as a 
result of elections in the Czech Republic, in Germany, but also 
in France, and cultivate cross-partner dialog on China.
    Thank you for the opportunity to present these insights 
today. I look forward to engaging with the members of the 
subcommittee during the discussion.
    [The prepared statement of Ms. Karaskova follows:]
    
[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]
    
    Mr. Kean. Thank you, Dr. Karaskova.
    And I now recognize myself for 5 minutes of questions.
    The PRC is providing a lifeline for Russia's war effort in 
Ukraine, exporting an enormous amount of dual-use goods to 
boost Russia's defense industrial base. In April, Deputy 
Secretary of State Kurt Campbell revealed that Russia's 
military has been, quote, ``reconstituted,'' thanks to this 
assistance from China.
    Mr. Rough, in your own words, how has China's support for 
Russia's defense industrial base enabled Putin's ongoing war 
against Ukraine and how would Putin's war effort in Ukraine be 
going if it didn't have this support from the PRC?
    Mr. Rough. Well, thank you, Mr. Chairman, for that 
question.
    Today, it is widely acknowledged that the PRC provides 
Russia with 70 to 90 percent of its computer numerical control 
machine tools, which are crucial for the automated production 
of precision-guided munitions and aircraft parts, and 90 
percent of the microelectronics, which are critical for the 
production of missiles, tanks, and aircraft.
    I believe, last April, General Cavoli, the Supreme Allied 
Commander Europe and the Commander of the European Command, 
testified before the House Armed Services Committee that 
Russian military reconstitution is taking place at a much more 
rapid clip, owing to PRC's support.
    And I can tell you that, in conversations with Biden 
administration officials, they see the Chinese support for the 
Russian war effort as absolutely essential to Russia's ability 
to take the number of casualties and reconstitute its armor and 
forces in Ukraine that it has over the past year.
    So, it is the dramatic issue in----
    Mr. Kean. How would you rate the efficacy of the Biden-
Harris administration's efforts to severe its malign PRC 
support for Russia, and what more can and needs to be done?
    Mr. Rough. I think rather than taking individual sanctions 
decisions against individual actors, the Biden administration 
might want to consider sectoral moves, including the potential 
threat of secondary sanctions against actors, for example, in 
Hong Kong, which is considered a major throughput for malign 
activity.
    So, I would say that individual decisions and sanctioning 
decisions by the Biden administration have yet really to take 
on the totality of the PRC threat and more probably should be 
done.
    Mr. Kean. Thank you.
    European countries often speak about derisking from the 
Chinese economy as opposed to decoupling from it. Dr. Rohac and 
Dr. Karaskova, what do you take ``derisking'' to mean in the 
European context and how would you grade Europe's progress on 
derisking from China?
    Dr. Rohac, first, and then, Dr. Karaskova, please.
    Mr. Rohac. Thank you for this question. It is an important 
one.
    There is a great deal of ambiguity in the term 
``derisking.'' And the matter is made more complicated by the 
fact that you have 27 member states involved in this 
conversation, where the perception of risk is very different. 
So, as of now, there is very little in terms of a coherent 
European approach toward this question.
    Even within individual countries, such as Germany, where 
Chinese electric vehicles do represent a threat because of the 
subsidies and because of the explicit Chinese policies to dump 
excess capacity on the European market, it is a threat to the 
Germany industrial base. At the same time, you have important 
players in the German industry who are also benefiting from the 
economic ties to China.
    So, these tensions do exist at the national level as well. 
We are nowhere near where we need to be in the United States in 
terms of decoupling from China, in terms of dual-use technology 
and critical supplies of, say, minerals, and so on and so 
forth.
    I think the conversation in Europe is, if anything, lagging 
further behind the United States, and I think this is one of 
those opportunities where U.S. leadership would be really, 
really helping in steering the conversation forward.
    Mr. Kean. Thank you.
    Dr. Karaskova, the same question.
    Ms. Karaskova. The recently released Customs data from 2018 
to 2023 actually indicate that the European countries 
maintained, or even increased, their dependency on China. But I 
would like to stress that the derisking strategy started only 
last year. So, we will probably see that, hopefully, in the 
data coming from 2024 and onwards.
    But talking with the German businesses, which have a great 
deal and great interest in the Chinese market, it seems that 
derisking strategy offers, also, some loopholes for those who 
do not wish to comply. And German companies often interpret 
derisking as just relocating their production more to China and 
taking on more Chinese partners saying, ``We are actually 
derisking from the European push for us to be less present on 
the Chinese market. We actually become European-Chinese 
companies.'' And that's their interpretation of ``derisking.'' 
So, I'm a little bit skeptical here.
    Mr. Kean. Thank you.
    I now recognize Ranking Member Keating for any questions 
that he may have.
    Mr. Keating. Thank you very much.
    Dr. Karaskova, just if you could followup? Do you think 
that the recently elected European Commission, whether there 
will be any change in this derisking policy as a result of that 
newly elected Commission?
    Ms. Karaskova. I don't think so. I think that within the 
European Commission, especially with the President, there is 
still a great push toward derisking strategy and making this 
happen. So, there is a lot of announcement coming up from the 
new Commission, or at least the plan for derisking is 
continuing. It very much depends on how the economies would 
react to that.
    So, we have experienced a record high in inflation in a 
number of European countries. We have also experienced energy 
shocks. And we do have governments which are now composed of 
far-right parties, which have very different positioning on 
China and, also, on Russia.
    And we have more elections coming, as I said, the Czech 
Republic, but also Germany next month and France as well. And 
that could actually hamper the European Commission position on 
derisking. So, I do see tensions between where the European 
Commission is heading, and would like to head, and where the 
European governments may actually want the European Commission 
to go when it comes to China and Russia.
    Mr. Keating. How much effect is the actions of Hungary, 
Serbia, and Slovenia, how much does that create that tension, 
too, not just the election of more people from the far-right 
parties?
    Ms. Karaskova. There's a problem because there is a big 
pull of gravity when it comes to Serbia. Serbia is the biggest 
country and the most influential country in the Western 
Balkans. And there is a number of countries surrounding that 
which have seen that Vucic can get away with his position on 
both Russia and China and it actually pays dividends. So, they 
can think that this could be a valuable model for them.
    And the same happens with Hungary. And we do see this with 
the new Slovak government, led by Prime Minister Fico, that he 
is also taking a lot of inspiration from Hungary. So, we may 
see a slow domino effect if this is not stopped.
    But you are absolutely right, Hungary, Serbia, and most 
increasingly Slovakia as well, could be outliers, which may try 
to tilt that balance.
    Mr. Keating. And then, accompanying this, of course, is 
disinformation campaigns as well. So, could you tell us about 
the effect of this Chinese disinformation campaign, as they use 
that in conjunction with some of the elections that are there 
to the more far-right people? And how can it affect China and 
how they are using it to their advantage?
    Ms. Karaskova. Uh-hum. Initially, China was messaging to 
European countries the so-called--and I mentioned it already--
positive energy, talking about Chinese culture, Chinese 
traditions, Chinese language, and so on. This changed in 2018-
2019, when China suddenly started to play by the Russian 
playbook. So, suddenly, started to sow distress toward the 
governments, toward military, toward international 
organizations, such as the NATO or the EU.
    So, we do see Russia and China confluencing actually on 
this topic, and that started even before the war in Ukraine, 
some of it. So, we do see this convergence actually happening.
    China also started to be very blunt when it started to 
approach far-right and far-left movements. Originally, it 
started with the far-left, then it moved across the board, and 
now, it is actually talking with all the parties in Europe.
    And these are not limited only to amplifying the 
narratives, the messages, by the far-right and far-left, but 
also by financial support to those French political parties and 
movements.
    There was a case in Germany the last couple of months back, 
when an assistant of Maximilian Krah, one of the MEPs for 
Alternative for Deutschland, was actually caught red-handed 
giving information to his Chinese handlers on secret 
information from the European Parliament. And this is just the 
tip of an iceberg.
    But, as I said, the counterintelligence services, to my 
belief, are not paying enough attention to that because 
everybody is occupied with Russia.
    Mr. Keating. Yes, and then, I mentioned in my opening 
remarks about the technology exchange in submarines and 
missiles with Russia and China, as a result of Beijing's 
support for Russia. Time is running out. But has that caught 
the attention of European officials as well?
    Ms. Karaskova. It did. Frankly speaking, there was already 
a recognition that the Chinese support lended to Russia is not 
only rhetorical or diplomatic or economy. That goes, also, 
toward the military area. And there was a suspicion already 
that it goes beyond the dual-use materials. So, I don't think 
that it comes as a big shock.
    Mr. Keating. Thank you all for coming.
    And I yield back.
    Mr. Kean. Thank you, Ranking Member Keating.
    I now recognize Representative Self from Texas for 5 
minutes.
    Mr. Self. Thank you, Mr. Chairman.
    There's no doubt that China is on the move, at least for 
now, and we have an administration that will not hold them 
accountable. Certainly, fossil fuels, we could have Russia and 
Iran destitute today, should we have chosen to do that.
    We talk a lot about soft power. This is a soft power 
discussion. But if you will look at that chart that I gave you, 
China controls some of the hard assets, critical minerals. Now, 
you may remember the pandemic challenges for supply chains. You 
may remember the fossil fuel Nord Stream 2 example. When you 
control resources, you control economies.
    Now, by their own admission, in the EU--let's look at the 
chart first. On the left side--and all the members have it as 
well--on the left side, you see some diversity on who mines 
these critical minerals, some diversity. On the right side, you 
see the refined supply--China, China, China right on down the 
line.
    Now, by their own admission, EU, 98 percent of their rare 
earths are controlled by China; 93 of their magnesium is 
controlled by China; 97 percent of their lithium is controlled 
by China.
    So, as we talk about soft power--and we have seen recently, 
as I say, he who controls resources has a lot of control over 
your economy. I think one of you used the word ``blackmail.'' 
Because I think this is a dangerous--now, semiconductors we 
won't talk about--but this is a dangerous--and frankly, if we 
had not had a light winter in Europe after the Nord Stream was 
cutoff, Germany would have been in real trouble; Europe would 
have been in real trouble. But we had a light winter, so they 
made it through.
    So, I just want to ask you, how in the world--and I'm 
following up on a conversation I had with Ambassador John Bass 
this morning--how in the world are we going to wean Europe and 
the United States--and, oh, as an aside, Alaska alone has 49 of 
the 50 critical minerals and we refuse to mine them in the 
United States to any great degree. So, how in the world are we 
going to derisk and decouple, whatever term you want to use, if 
97, 93, 98 percent of critical minerals are controlled by 
China?
    Because the rest of this seems to be, yes, we in America 
have the same problem. We look at them as the ``big warehouse 
in the sky,'' and yet, we consider them a strategic adversary. 
We have got the same problem Europe does. But how in the world 
are we ever going to wean off Europe--and we are discussing 
Europe--if these numbers apply, critical minerals? Because this 
looks to me like blackmail material.
    Who wants to take it?
    Mr. Rough. Sure, I will just supplement your point, 
Congressman, that I think the Russian war strategy for the 
winter is to bomb Ukrainian critical infrastructure, so that 
you, essentially, freeze the civilian population.
    To your point, the Europeans have, at least belatedly, 
pushed a Critical Raw Materials Act, which is supposed to 
within the next 6 years, by 2030, alleviate some of their 
dependencies in extraction, processing, and recycling, but they 
are overwhelmingly dependent on the PRC for rare earths. I 
suppose streamlining, planning laws, and chemical regulations 
across countries and developing joint financing would make 
sense. But, in the end, what is critical here is political will 
on both sides of the Atlantic.
    And perhaps the Chinese sort of nascent blackmail in this 
area by withholding germanium and gallium, which are used for 
semiconductor applications and military communications 
equipment, causing the skyrocketing, almost a doubling of 
pricing in the past year.
    Mr. Self. And why did they put that in place?
    Mr. Rough. This was a, this was----
    Mr. Self. It was the results of a visit--it was direct 
blackmail--the visit by maybe Speaker McCarthy; I have 
forgotten the exact visit, but a visit of a U.S. official. 
They, then, turned it into blackmail by withholding germanium 
and gallium.
    Mr. Rough. And it is now bound up in the European Union's 
attempt to defend itself against Chinese dumping electric 
vehicles. We also have heard that in the coming weeks there 
might be export controls on antimony, an obscure metal used in 
armor-piercing ammunition.
    So, as the Chinese drip out these policy decisions, 
hopefully, it will rattle Europe sufficiently to where we can 
forge a joint transatlantic response.
    Mr. Self. Okay. Before we go, China is in trouble in many 
ways. Demographically, they haven't moved away from their 
construction model to grow. They are looking perhaps at 
deflation.
    Real quickly, do you think that that is going to be 
problem? Because they will take the whole world down with them 
if they start a deflationary cycle.
    [No response.]
    Silence.
    Mr. Rohac. I mean, Chinese, the weakness of the Chinese 
economic model I think is becoming more and more apparent, and 
it is simultaneously good news for the countries of the West 
and bad news. It is good news because the Chinese are not quite 
as prosperous as we might have expected them to be, and 
demographically, the outlook is bad. The unsustainability of 
the state-led, capital-intensive, capital-heavy development I 
think is becoming apparent. It's the rate of return on 
investment is falling down. And I don't think China has the 
sources of domestic productivity growth that we enjoy in the 
United States, being a free and open economy that is attracting 
talent and capital from around the world. So, that is good news 
simultaneously.
    The interlinkages that do exist are something policymakers 
have to be aware of and the way to deal with that is to----
    Mr. Kean. Thank you.
    Mr. Self. Thank you, Doctor.
    Mr. Kean. Thank you.
    Mr. Self. Chairman, I yield back. Thank you.
    Mr. Kean. Thank you, Representative Self.
    The chair now recognizes Representative Titus for 5 minutes 
of questioning.
    Ms. Titus. Thank you, Mr. Chairman.
    Well, we have heard a lot about the relationship between 
China and Hungary. Both have strong men leaders, both 
democratic backsliding--certainly, in Europe with Hungary. The 
human rights violations. Forty-four percent of Chinese 
investments in Europe go to Hungary. So, that relationship is 
pretty established.
    But, Dr. Karaskova, when Xi went to Budapest in May and 
they met, he met with Orban, and they established what they 
called an ``all weather partnership,'' and as part of this, 
they signed several agreements that ranged from economic to 
cultural cooperation. Could you give us some more detail about 
those agreements and how they have had an impact, and maybe how 
that notion of this ``all weather partnership'' might be 
spreading beyond Hungary?
    Ms. Karaskova. Yes, Hungary seems to be--Hungary and Serbia 
seem to be the only countries which are actually benefiting 
from China currently when it comes to investments from Central 
and Eastern European countries. The other so-called 16 plus 
one, now 14 plus one countries, do not either eye the 
investment or they actually do not benefit that much.
    And there is a direct correlation between political stances 
of these two governments--I mean Hungarian and Serbian--and all 
those investments, opportunities given by China.
    These two governments also--and forgive me for being so 
blunt--have a very transactional and opportunistic nature. So, 
they do not, they do not care that much about anti-corruption 
measures, and so on. So, I would still see those two as 
outliers and as a direct correlation between what their public 
stance is and political stances are on this.
    If I may also go to the previous question, but I'm not sure 
how this works. So, maybe if there is time, I would like to do 
that.
    Ms. Titus. And I will come back to that.
    I also want to ask you, why do you think it is important 
for U.S. leaders to call out Orban's relationship with the PRC? 
Now, especially in light of last night's debate, does Trump's 
Presidential relationships and his praise for Orban kind of 
undermine our transatlantic democratic values and cooperation? 
So, could you comment on that?
    Ms. Karaskova. That's a very tough question. I may perhaps 
revise it and say that Mr. Orban is not very well regarded by a 
majority of the European governments. That's by also saying 
that I would like to say that he is admired by opposition 
leaders, usually those on the far-right spectrum, which may 
actually make their avenues into the next governments. So, this 
is a very, very shaky ground, very moving sense.
    But, in general, the comments about Mr. Orban being very 
wise and smart, and so on, I don't think they resonated in 
Europe, in general.
    Ms. Titus. How about opposition to him in Hungary?
    Ms. Karaskova. Opposition, unfortunately, lost in the last 
elections. There is still a significant, I would say, push, 
especially by the Mayor of Budapest, but the population, 
unfortunately perhaps, is very happy with Mr. Orban and with 
his policies. So, I don't see any foreseeable change in the 
government.
    Ms. Titus. All right. Well, I will yield the time and let 
you answer the question on the critical minerals, since it 
seems to keep coming up in every hearing.
    Ms. Karaskova. Thank you very much. That is very kind of 
you.
    I just wanted to perhaps say that rare earth or rare 
materials are actually not rare. They are quite, quite 
prevalent. What is problematic here is that, when you extract 
them, it is very pollutant and Europeans do not like to pollute 
their grounds.
    We, as Europeans, I think we drop the ball when it comes to 
relationship with African countries, due to historical 
grievances and also different priorities. So, there is an 
increased attention paid to African countries, Sub-Saharan 
countries in particular, but there is a lack of division of 
labor of the Europeans. So, we do see that we have to do 
everything, and in the end, nobody is actually doing anything.
    So, there is a problem in, I think, U.S.-EU cooperation on 
actually dividing the countries, dividing the tasks, and 
pushing Europeans to be much more active when it comes to 
cooperation with our African partners. And we have seen the 
recent visit of leaders in Beijing and the cooperation between 
Africa and China that Europeans are actually losing in this 
game with China.
    Ms. Titus. Now, I will take my time back. Thank you.
    Mr. Kean. Thank you.
    I now recognize Rep. Costa for 5 minutes of questions.
    Mr. Costa. Thank you very much, Mr. Chairman.
    And I think it is appropriate at this point in time that we 
look at the Chinese influence in Europe, but, more importantly, 
use this as an opportunity to talk about greater cooperation 
between our European allies and ourselves.
    Because, for China, we share a similar challenge. China is 
an adversary; they are a competitor, and they are a vast 
market. And that makes it complicated.
    And I don't think in that matrix we have really, ourselves 
or the Europeans, have determined how we deal going forward 
with China's adversarial relationship with us--the attacks they 
have on us thousands of times a day in very subtle ways, both 
in our companies, their espionage, as well as attacks on our 
institutions, public institutions. And they do the same in 
Europe.
    And so, what we haven't hit upon is a strategy. Do you 
think Russia and China are coordinating their malign 
influences, and European nations are with us? And are these 
common goals or are these personal agendas?
    Who would like to take that on? Please, Dr. Rohac.
    Mr. Rohac. I'm happy to. Thank you.
    I think there's certainly a degree of coordination, as 
exemplified by the no-limits partnership reached between Putin 
and Xi. However, I think the coordination and cooperation 
between those two actors falls short of the degree of 
institutionalized alliance-like structure that we saw during 
the cold war between the Soviet Union and----
    Mr. Costa. And that is sort of lacking. I mean, I think the 
Europeans think that their Trade and Technology Council, the 
TTC, is one of the ways to address the differences, and I think 
they would also like to work with us in implementing tools to 
limit China's influence. What do you think of the possibilities 
of that?
    Mr. Rohac. I think the TTC has not lived up to the 
expectations due to the modeling. I think----
    Mr. Costa. Well, but for reasons, why--first of all, it is 
a work-in-progress, I believe. And second, our collaboration on 
it I think has not been significant.
    Mr. Rohac. Well, I think the method just deserves a much 
greater sort of degree of ambition and urgency from 
policymakers on both sides of the Atlantic, if you are to build 
truly integrated supply chains.
    Mr. Costa. But isn't that where we are really missing out? 
I mean, when you look at our economy and the Europeans' economy 
and the opportunity to leverage that, is the lack of 
collaboration----
    Mr. Rohac. Well, I'm old enough to remember the 
negotiations over TTIP before 2016.
    Mr. Costa. Yes, well, I'm old enough to remember the TTIP 
effort as well.
    Mr. Rohac. And I would like----
    Mr. Costa. And sadly, it was discarded along with the 
Trans-Pacific Partnership. Because I think working with allies 
that share values is a far better way than the notion of 
tariffs, which are a tax on American consumers. And everybody 
can play that game and we have seen it.
    So, let me ask another question here. You know, I work 
closely with our European allies, and they see Hungary and 
Viktor Orban, that great defender of democratic values and 
institutions--Viktor, Viktor, where are you?--because they know 
what his game is all about. And so, he is a problem child for 
Europe and they are having to deal with it, even in this point 
in time where they have the chairmanship.
    But where are the opportunities to deal with the malign 
influences of Russia and China? We know what China's goals are. 
We know what Russia's goals are with their invasion of Ukraine. 
And clearly, you know, I mean, Putin is a war criminal. Russia 
is a syndicate masquerading as a country with a mob boss called 
Putin. And their view is, you know, if they can succeed in 
Ukraine, then possibly Poland is next--or Romania, or the 
Baltic States. So, where do we find the opportunities to 
collaborate with our allies here? I mean, is this not a seminal 
moment in world history?
    Mr. Rohac. I do think we need both carrots, deeper 
cooperation, but also sticks. When you look at Hungary and the 
EV investments in places like Hungary or Slovakia, there has 
been evidence that is being investigated by the Select 
Committee on the CCP that links some of these Chinese 
conglomerates to the events in Xinjiang and the genocide 
against the Uyghurs. We should not be afraid to actually float 
the possibility of sanctioning these companies.
    Mr. Costa. No, I agree.
    Mr. Rohac. And taking a much sort of tougher, more coercive 
stance.
    Mr. Costa. Let's draw the line with TikTok, begin there----
    Mr. Rohac. Forcing allies to have to pick a side.
    Mr. Costa [continuing]. The wholly owned subsidiary of the 
Chinese Communist Party of China.
    Thank you. My time has expired. But I will take another 
shot at it.
    Mr. Kean. Thank you.
    I now recognize Congress Isa for 5 minutes.
    Mr. Issa. Thank you, Chairman.
    I'm going to ask, if any of you disagree, to be the first 
to speak up.
    Do you disagree that China is a current threat to the 
stability of Sub-Saharan Africa because of their activities, 
including destabilizing governments and taking over whole 
industries of raw materials?
    [No response.]
    Okay. Do you agree that they have begun a serious attack on 
European institutions, including YPO?
    [No response.]
    Last, are any of you not aware that they stole the entire 
plan from CERN for the next generation of nuclear research and 
supercollider?
    [No response.]
    You're all aware of it.
    So, then, the question is, if all of that is true, that 
they are willing to compromise a whole continent; that they are 
willing to attack institutions, global institutions, and they 
are willing to steal the entire intellectual property designs 
for the next generation of research, the pride of Europe--you 
just have to type ``CERN'' and you can look, and it is nothing 
but what Europe is so proud of, all that has come out of that 
joint innovation that the United States has participated in 
since the 1950's.
    If that is the case, then where is there a carrot left? The 
carrot is already that they steal everything with impunity. So 
now, the question is, do we have the will with our European 
partners to begin using the stick of making it at least 
economically disadvantageous to them to do so?
    Anyone care to comment on that?
    Yes, ma'am?
    Ms. Karaskova. Unfortunately not. So, as Director Rohac 
already said, Europe is fragmented, and I completely agree with 
that; that there are governments who are willing to go the 
extra mile, but, first of all, those governments may perish 
quite easily in the next elections.
    And second, they go the extra mile because of the 
partnership with the United States--not necessarily because 
they actually understand China's threat of know all that the 
Chinese government stands for.
    So, it is very fragile, very fragmented. And I absolutely 
agree that we are out of carrots. Maybe the carrots could be in 
climate change, but, honestly speaking, who cares about climate 
change sincerely?
    Mr. Issa. I will leave that one where it started.
    My followup question really, though, is, if China is as 
fragile economically as they appear to be--today, they refuse 
to honor their, literally, it was announced today, their HSBC, 
Hong Kong and Shanghai Bank Corporation. They had promised tens 
of billions of dollars of backstop on their bad real eState 
loans. And the Hong Kong Bank--or it goes by the letters now--
had to announce that, you know, the Bank of China has decided 
they are not going to honor that.
    If that is the case, am I wrong, or should the United 
States and this body look at this as our softest--or no--our 
hardest tool, but with the least kinetic damage, is, in fact, 
an all-out economic attack, if you will, on the underpinnings 
of China, which is their situation in which they have been 
allowed to print money even more freely than the United States. 
They have done so. And the reality is they are not loaning 
money to anybody; they are actually taking your money and 
giving it back to you in the form of a loan.
    Am I missing anything? Or do we, essentially, have what 
appeared to be a tiger that is, in fact, when you look at their 
current financial condition, they are a paper tiger--especially 
if we cutoff the flow of clandestine oil and natural gas to 
them?
    Mr. Rohac. One possible caveat to this would be concerns 
over the health of our own financial industries, both in Europe 
and the United States. And we have seen financial contagions 
unfold in the past. I think the exact mechanisms and downside 
risks are not well understood even among economists. So, I 
would have some sympathy for those who would urge caution in 
exercising this----
    Mr. Issa. And I agree with you. And I will just close by 
saying I agree with you. And I used that extreme for a reason. 
There is no soft landing if, in fact, the see-through buildings 
are what they appear to be throughout China. The question is, 
how can we do what we need to do to China, which is recognize 
their false construction and their false wealth, and at the 
same time protect institutions in Europe and the United States? 
If we do nothing, we will eventually hit a cliff.
    So, the question for the record--I know, Chairman, we have 
to go--is, in fact, ideas that would allow us to begin moving 
in that direction at a pace that isn't catastrophic.
    Mr. Rough. Well, I think there is some very easy low-
hanging fruit where we can begin. One is China's version of 
Europe's critical infrastructure, which is important, also, for 
our military posture.
    The Chinese have state-owned enterprises with major 
shareholders in four of the five Europe's major ports--in 
Rotterdam, Antwerp, Hamburg, Valencia, Spain. LOGINK, a Chinese 
Ministry of Transportation unified logistics platform, is 
embedded in at least nine European ports--also, Rotterdam, 
Antwerp, and Hamburg.
    So, there is, I think, an opportunity to work with the 
Europeans at least extricating our own vulnerabilities from the 
Chinese on critical infrastructure, and then, move to the next 
stage of derisking and decoupling--ultimately, made more 
complex by the fact that, unlike the cold war, the United 
States and the PRC have interwoven economies, and I think we 
have to be delicate and deft and intelligent in the way that we 
derisk, delink, and ultimately, decouple our economies from 
China without damaging our own wealth and prosperity.
    Mr. Issa. Thank you.
    Thank you, Mr. Chairman.
    Mr. Kean. Thank you, Representative Issa.
    With no further questions from members, I want to thank our 
witnesses for their valuable testimony and the members for 
their questions.
    Members of the subcommittee may have some additional 
written questions for the witnesses. And we want to ask you to 
respond to these promptly and in writing.
    [The information referred to appears in the appendix:]
    Mr. Kean. Pursuant to committee rules, all members may have 
5 days to submit statements, questions, and extraneous 
materials for the record, subject to length limitations.
    [The information referred to appears in the appendix:]
    Mr. Kean. Without objection, the committee stands 
adjourned.
    [Whereupon, at 3:05 p.m., the subcommittee was adjourned.]


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