A Chinese-government-controlled company has put in an offer to buy Forbes, the major American news company that built its name on financial analysis.
The Free Beacon reports that Magnum Opus (the CCP-controlled firm in question) announced last August its intention to purchase the property. Now, that deal looks to be nearing completion, and it’s drawing outrage from Republicans who are pointing out what a major security risk the move represents.
NEW: CCP-controlled business wants to acquire one of the most well-known American brands.
Senators warned that the bid by Forbes to purchase the company is a threat to national security and could allow the Chinese Communist Party propaganda machine to flourish.
Via @Kredo0 https://t.co/L9j9nLgyqn
— Washington Free Beacon (@FreeBeacon) May 31, 2022
A Chinese-controlled firm’s bid to buy the Forbes media company poses a national security threat and would allow the Chinese Communist Party to push its propaganda by using one of the most recognizable American brand names, according to a group of Republican senators.
“Forbes is a recognizable American brand with immense propaganda value to the CCP,” Sens. Tom Cotton (Ark.Bill Hagerty, Ted Cruz, Bill Cassidy (La.), and Bill Hagerty in Tennessee. On May 24, the Treasury Department received a request from the CCP to investigate the purchase. “The CCP’s direction of Forbes’ editorial content and business operations, or its access to Forbes’ financial and personal research, could present a serious national security threat to the United States.”
Frankly, I believe it’s insane that this is even being considered. Any nation that sells itself to foreign rivals will not survive or thrive on this planet. While there are risks associated with allowing Chinese control over newsflow in a country founded on freedom of speech, this is not the only risk. The United States is at risk from any Chinese investments. We shouldn’t be letting the Chinese buy up property, we shouldn’t let them buy American corporations, and we certainly shouldn’t let them buy American news outlets.
The more libertarian of us may disagree with me, and argue that keeping China’s influence from growing in the US is an invasion on the free marketplace. I’d argue such ideals stop at the water’s edge. What if Russia tried to purchase Forbes? Is that okay? Would the US government intervene immediately to block the purchase? China should be scrutinized as a far more important adversary than the United States in the big scheme of things.
Next, we need to ask why only Republicans speak out about this. Is it really possible that Democrats are so dependent on the Chinese they will allow such an event to occur? We know this because the question has more rhetorical value than any other. We’ve seen Joe Biden’s supportive attitude toward the CCP over the years, as well as his son’s financial connections, but he’s just one of many on the left side of the aisle that continue to treat China with kid gloves despite its aggression and human rights abuses.
China views monetary power its main weapon against the freedom of the rest of the world. We’ve seen the oppressive deals they’ve struck via the so-called “belt and road program” with poor African and South American nations in order to gain access to raw materials. It is suicide to allow the CCP to influence the United States in the same way as they do elsewhere.
What about Janet Yellen? Don’t count on it. She’s become nothing more than a mouthpiece for the Biden administration, whether talking about abortion, climate change, or anything else.
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