Lawmakers Introduce Bill to Safeguard US Economy From Potential ‘Fallout’ of Chinese Invasion of Taiwan

House lawmakers have introduced bipartisan legislation to develop an economic strategy aimed at mitigating “the catastrophic economic fallout” resulting from a potential Chinese invasion of Taiwan. The legislation titled the “Fortifying U.S. Markets from Chinese Military Aggression Act” was introduced by Reps. Blaine Luetkemeyer (R-Mo.) and Ritchie Torres (D-N.Y.) on April 11. Under the legislation, an advisory committee would be established to develop an economic plan to alleviate potentially devastating economic repercussions in the event the Chinese Communist Party’s (CCP’s) military invades Taiwan. “America is unprepared for the catastrophic economic impact of a Chinese invasion of Taiwan,” Mr. Luetkemeyer said. “Our capital markets are resilient and have weathered prior military conflicts, recessions, and a global pandemic. Yet a Chinese invasion of Taiwan and the immediate economic sanctions and likely military actions that follow would present a drastically more intense challenge given how deeply our countries’ economies are integrated.”...