New House Panel on China to Scrutinize U.S. Investments in Country

(Bloomberg) — The chairman of a new congressional committee on China says he plans to focus scrutiny on U.S. investments in the country, amid broader concerns about the threat of economic warfare between the world’s two biggest financial powers.

“If the story of the last five-ish years was enhanced scrutiny of Chinese investment in the U.S., the next phase of this is going to be enhanced scrutiny of outbound U.S. investment into Communist China,” said Representative Mike Gallagher, the Wisconsin Republican who has been tapped to head the House Select Committee on China.