Monday, January 20th, 2025

US House passes Taiwan Conflict Prevention Act, targets Chinese aggression


The US House of Representatives has unanimously passed the Taiwan Conflict Prevention Act, a significant step aimed at countering China's growing aggression against the self-ruled island.

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The law passed on Monday aims to expose and restrict financial transactions of Chinese Communist Party (CCP) officials and their families in case Beijing attacks Taiwan, Taiwan's Central News Agency reports.

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The bill, introduced in January by Republican Rep. French Hill and Democratic Rep. Brad Sherman, sends a clear message to Beijing: Any aggression against Taiwan will be costly for China's corrupt leadership.

The act gives the US Treasury Department the authority to publicly disclose the illicit financial assets of top CCP officials and their families if they are involved in hostile actions against Taiwan.

“If China wants to attack the independent people of Taiwan, [the bill] “The bill would require the Treasury Secretary to publish information on the illicit assets of Beijing's most senior leaders, including the names of financial institutions that hold accounts,” Hill said in a floor address.

He pointed out that the Chinese government, which has failed to provide adequate social security to its citizens, has allowed its officials to amass immense wealth, further deepening domestic inequality.

The Central News Agency report further said that this law not only threatens to expose these ill-gotten wealth but also imposes financial sanctions that would cut off CCP officials and their families from the US financial system.

“The world is getting a lot smaller, even for Chinese officials whose families benefit from their ill-gotten wealth,” Hill said. He said China's elite will struggle to hide their wealth as global scrutiny grows.

The bill comes amid growing international concern over China's militaristic ambitions, particularly in Taiwan, a self-governing democracy that Beijing claims as its own.

While the Chinese Communist Party has consistently violated international norms, its aggression toward Taiwan has become a symbol of its broader ambitions of regional dominance, posing a threat to peace and stability in the Indo-Pacific region.

Representative Sherman reiterated these concerns and emphasized that the United States is closely monitoring the growing threats from China.

“This bill is designed to warn the Chinese government that the United States is closely monitoring its growing threats toward Taiwan,” Sherman said.

China's leadership has long benefited from a system of corruption where top officials enrich themselves and their families while the average citizen suffers from economic instability, including a rapidly declining real estate market.

The bill exposes the hypocrisy of China’s leaders, many of whom have stashed billions of dollars overseas even as their country struggles with growing economic challenges.

In Taipei, Taiwan's Foreign Minister Lin Chia-lung praised the US Congress' innovative approach to deterring Chinese military aggression. Lin stressed that this legislation can play an important role in maintaining peace and stability in the region.

The passage of the Taiwan Conflict Prevention Act not only underscores Washington's commitment to defending Taiwan, but also highlights the depth of corruption within China's ruling elite. Beijing's aggressive approach toward Taiwan may now face greater personal costs to the officials who enable it, CNA reports.



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