China creating own digital currency will 'offset' US sanctions

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Atlas Organization founder Dr. Jonathan Ward, an expert on Chinese global strategy, discussed how the Biden administration can create competitive policies against China and argued that creating its own digital currency that is controlled by its central bank will “offset” U.S. sanctions, during an interview on FOX Business' "Mornings with Maria."

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JONATHAN WARD: There's an important need to invest in the United States and it's going to include spending on U.S. R&D. It's going to include measures to improve U.S. manufacturing a new office for the Department of Commerce to bring supply chains back to the United States from China and also a massive cash infusion industry, which is right at the center of what's going wrong in the Pacific... But the other side is it's not going to be enough to invest in the United States. I mean, this is what many people are saying, is that we have to run faster in order to compete with them. But unless we are also enacting economic containment measures on China, then we're simply improving our own capabilities while allowing our adversaries to pick our pockets. So it's going to be very important, I think, to restrict investment into China's key industries and emerging technologies, to start going after Chinese companies that have benefited from intellectual property theft, from American innovation and R&D and ultimately our companies to come back to the U.S. side and ultimately compete against Chinese corporations globally while also maintaining deterrence in the Pacific. Because at the end of the day, ... if we allow them to outproduce us, sort of outspend us and do all of that deterrence will fail in Asia. So so we're going to have to, on one hand, invest in ourselves, also get an economic containment policy on China...

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