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Lawmakers Warn CCP Behind “Largest Wealth Transfer in History”
Posted
April 24, 2026
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3:02Now PlayingThe Senate Judiciary Committee held a hearing on the growing threat posed by China’s theft of U.S. intellectual property, with lawmakers warning of massive economic and national security risks. Senators including Chuck Grassley, Josh Hawley, Ted Cruz, and Katie Britt highlighted how the Chinese Communist Party is accused of orchestrating a coordinated campaign to steal American technology, data, and trade secrets.
Experts testified that the U.S. loses an estimated $400 to $600 billion annually due to IP theft, calling it one of the largest transfers of wealth in history. Witnesses pointed to cyberattacks, AI-driven espionage, and insider threats as key tactics used to target industries ranging from pharmaceuticals to defense.
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