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Code · BILL · 116th Congress · S. 4629 (Introduced in Senate) — To address issues involving the People's Republic of China. · Sec. 263

Sec. 263. Enhancing United States–ASEAN cooperation on economic relations with the People's Republic of China

254 words·~1 min read·/bill/116/s/4629/is/section-263·

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It is the sense of Congress that the United States and ASEAN— should leverage their respective economic innovation capabilities to support the global economic recovery from the COVID–19 recession and draw a contrast with the People's Republic of China’s centralized economy; shall accelerate efforts to de-escalate trade disputes and strengthen economic and trade ties; and shall cooperate on a strategy to respond to China’s Belt and Road Initiative and to leverage existing and future projects that have entered into contracts with the Belt and Road Initiative to further promote transparency, debt sustainability, and the public good.
The Secretary of State shall establish a United States-ASEAN economic working group focused on the People's Republic of China. The working group shall— evaluate United States and ASEAN overreliance on Chinese goods, including in the medical and pharmaceutical sectors, and develop joint strategies to diversify supply chains; and seek to leverage the United States and ASEAN private sector in the COVID–19 economic recovery. The President shall establish a formal Department of State-ASEAN working group to develop a comprehensive strategy to respond to China’s Belt and Road Initiative.
The United States and ASEAN shall develop a set of transparency, environmental, and social standards for all infrastructure projects that are executed by foreign firms on United States or ASEAN soil. The United States shall work with ASEAN to leverage financing from the private sector. The President, in cooperation with ASEAN, shall identify at least 5 infrastructure projects to co-finance in order to promote transparency, debt sustainability, and the public good.
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