News

How China is taking trillions of U.S. dollars in illicit proceeds every year

Published

9 months ago

August 31, 2023

ticker NEWS

Tens of millions of Americans have become financial backers of the Chinese Communist Party (CCP) without even knowing it.

China’s current financial woes and spiraling downward economy have many officials sounding the alarm over concerns that China’s Communist Party (CCP) will further its illicit trade, nationalism, and military aggression.

David Luna, the Executive Director of the International Coalition Against Illicit Economies, joins Veronica Dudo to discuss.

Luna says that several trillions of U.S. dollars in illicit proceeds every year are generated from predicate offenses or specified unlawful activities for money laundering that touch China’s jurisdiction and markets, and are often used to finance China’s authoritarian regime.

Additionally, Luna explains that the CCP has leveraged corruption, illicit markets, and predatory trade and lending practices to become a dominant illicit player across global markets, supply chains, and digital marketplaces.

He adds that such CCP criminalized activities are helping China to also finance its economy and military and thereby bolster public support for the ruling CCP regime. #CCP #China #economy #illegaltrade #US #authoritarianregime #blackmarket #finance #Chinaeconomy

Related Topics:authoritarianregime blackmarket ccp china Chinaeconomy Economy Finance illegaltrade us

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