The coronavirus pandemic may have shed light on China’s influence in America over the supply chain, including life-saving medicines, technology

How much of the United States does China really own?

submited by

Style Pass

2020-07-01 08:10:59

The coronavirus pandemic may have shed light on China’s influence in America over the supply chain, including life-saving medicines, technology and equipment.

The American Security Institute recently released a report and launched a campaign, featuring a billboard in Times Square, to draw further attention to the extensive array of sectors the Chinese government and its partners have invested into. But, exactly how much does the nation own?

China produces 97 percent of U.S. antibiotics and about 80 percent of active pharmaceutical ingredients used in American drugs, giving the Chinese Communist Party absolute control of potentially life-saving medicine. For example, Chinese pharmaceutical companies supply 70 percent of the world’s acetaminophen, commonly used in Tylenol.

In 2017, the United States imported $4.6 billion in agricultural goods from China, which is also responsible for much of the global supply of soy and pea proteins that are found in nutritional supplements and synthetic meats. A Chinese firm has also purchased Smithfield, the world’s largest pork processor and hog producer.