China is coming under intense scrutiny from the rest of the world over its handling of the CCP Virus (coronavirus), and the pressure isn’t about to let up anytime soon.
Peter Navarro, the White House trade adviser spoke to Maria Bartiromo on “Sunday Morning Futures” and said China “is profiteering” by cornering the personal protective equipment (PPE) during the pandemic.
Navarro explained how China did four things that led to many deaths. “First of all, the virus was spawned in China, second of all they hid the virus behind the shield of the World Health Organization, the third thing they did was basically hoard personal protective equipment, and now they’re profiteering from it.”
Navarro continued, “We know that for a critical six-week period of time, China used its influence at the World Health Organization to hide the virus from the world. This was a time where that virus could have been contained in Wuhan; instead, 5 million Chinese people went out from Wuhan and propagated the virus around the world.”
This was crucial for the rest of the world, as that time was vital to prevent the CCP Virus from spreading through the rest of China, and the world.
“During that period of time, that six-week interval when they were hiding this virus from the world, China went from a net exporter of personal protective equipment, they are the largest producer of that in the world, to a large net importer,” Navarro said.
“They basically went around and vacuumed up virtually all of the PPE around the world, including a lot from this country, which was for humanitarian reasons sharing our PPE with them, and what that did was leave people in New York, Milan, and everywhere in between defenseless when it came time to have that PPE.”
Now, China is sitting on that hoard, and Navarro said it is something very concerning. “I have cases that are coming across my desk where $0.50 masks made in China are being sold to hospitals here in America for as much as $8,” he said.
As of Sunday, more than 2.3 million people around the world have tested positive for the CCP Virus and more than 162,000 have died, according to Johns Hopkins University. In America, more than 735,000 cases have been reported and 39,000 people have died.
Navarro noted the death toll on Sunday and said that China “may attempt to use this crisis now to advance their own agenda worldwide.”
Australia is not for sale
Meanwhile, Chinese state-owned firms are looking to take advantage of the pandemic in other ways. They have made moves to snap up floundering businesses in Australia, and the Australian government is on the alert: Australia is Not For Sale.
Liberal MP Andrew Hastie called for the Foreign Investment Review Board to be aware of any attempts from China to buy up Australian businesses during the pandemic, and Treasurer Josh Frydenberg responded by declaring there will be a zero dollar approval threshold for all proposed foreign investments of Australian businesses and residential real estate. “These measures are necessary to safeguard the national interest as the coronavirus outbreak puts intense pressure on the Australian economy and Australian businesses,” said Frydenberg.
Hastie, who was refused entry into China last year for refusing to apologize for criticizing China, told Daily Mail Australia in late March the government had to be on alert for Chinese companies attempting to buy up in Australia.
“Now is the time to keep our guard up,” he said.
“We’ve taken some big economic hits and we need to protect ourselves from predatory behavior.”
Hastie, an outspoken critic of China, said the freight services of major airlines would be a particular target.
“Authoritarian states will be looking to snap up distressed businesses and assets, particularly ones that are critical to global supply chains — like aviation and cargo freight,” he said.
“We need to stay vigilant, especially those who are responsible for reviewing foreign investment.”
Clive Hamilton, a professor of public ethics at Charles Sturt University’s Canberra campus, agreed that state-owned Chinese firms would be looking to buy floundering Australian companies.
“Australia should tighten its foreign investment filter so that Australian companies have plenty of time to get back on their feet,” the author of “Silent Invasion: China’s Influence In Australia” told Daily Mail Australia.
“There’s a significant risk that Chinese companies, including state-backed ones, will buy up Australian companies crippled by the coronavirus lockdown,” Hamilton said.