Corporate America's China addiction has become a national security threat

The American economy is dangerously reliant on Communist China.Many in government and business know this, but hardly anyone has done anything about it.One important step toward addressing this vulnerability is greater transparency.

A petition recently filed with the Securities and Exchange Commission urges the agency to require publicly traded companies to disclose to shareholders the material risks created by deep supply chain dependence on China.Investors deserve a clear accounting of just how exposed corporate America has become.This is no hypothetical exercise or war game.

U.S.corporations have outsourced vital consumer production to a geopolitical rival that is openly committed to displacing America as the world’s leading power.

China’s appetite for Taiwan may very well become a near-term flashpoint.SEN TODD YOUNG: THE HIDDEN DANGER CHINA’S SHIPS COULD BRING TO OUR SHORESCorporate reliance on China has resulted in a supply chain so brittle that an abrupt break in relations — whether from war, embargo or economic coercion — could cripple our defense, healthcare, technology and consumer economy overnight.Bulldozers scoop soil containing various rare earth minerals to be loaded on to a ship at a port in Lianyungang, east China's Jiangsu province, Sept.5, 2010.

(STR/AFP via Getty Images)Communist China already controls decisive shares of vital materials and components.It mines roughly 70% of global rare earth elements and processes more than 90% of them.

The U.S.relies on China for many critical minerals essential to F-35 jets, submarines, missiles, semiconductors, electric vehicles and medical devices.

Export controls imposed by Beijing in recent years are not abstract warnings; they are dress rehearsals for leverage.The pharmaceutical sector is equally exposed.China supplies 60% to 70% or more of key active pharmaceutical ingredients and precursor materials for antibiotics and other essential drugs.

Much of the rest flows through India, which its...

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Publisher: Fox News

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