Silicon Valley Bank’s collapse is rippling into China. Thousands of Chinese companies are listed among the bank’s clients—with over $240 million in assets on the line—and 57 are on a special list belonging to the Chinese Communist Party. Those same companies fall under the “foreign depositors” category that the United States is set to protect. Sen. Marco Rubio (R-Fla.) penned a letter to Treasury Secretary Janet Yellen, expressing concern over handouts to the Chinese regime. Estimates say the bank had nearly $14 billion of uninsured foreign deposits.
Topics in this episode:
- SVB Collapse: Would the U.S. Help Chinese Drug Makers?
- Witness: Chinese Police Trade Executed Prisoners’ Organs
- Wh: Chinese TikTok Owners Must Divest or App Will Face Ban in U.S.
- U.S. Approves Missiles Sales to Australia
- Japan, S. Korea Work to Soften Historic Rivalry
- U.S. Welcomes Ice-Breaker Between Japan, S. Korea
- U.S. Runs First Maritime Drills With West Africa Top Priority: Illegal Fishing by China
- U.S. Nuclear Deterrence Against Two Fronts: Fisher