Bannon: America's Elite Benefitted from China's Rise, Working and Middle Classes Were Set Back

Breitbart News Executive Chair and former White House Chief Strategist Stephen K. Bannon said at a conference in Japan on Tuesday there will be some “additional information” on the Section 301 investigation the United States has initiated into Chinese intellectual property theft in the days and weeks ahead.

“In the coming days and weeks ahead you will see Preident Trump and the administration put out additional information about this 301 report and what actions are going to have to take place,” he said Tuesday at the 12th InterEthnic/InterFaith Leadership Conference in Tokyo.

The investigation was launched in August, to look into Chinese laws, policies, and practices that are harming American intellectual property rights, innovation, or technology development. The move angered Chinese leaders that saw it as a unilateral act of aggression outside the framework of the World Trade Organization.

Bannon, in his speech in Tokyo, said China has taken $3.5 trillion dollars in forced technology transfers from the U.S., in exchange for market access. He said:

It’s taken what is the flower of the liberal democratic free market system. And that is our innovation. America’s been powerful because America can innovate. The West has always been the leaders in innovation. And what the Chinese demanded in order to get access to their markets was that our companies basically had to give over it’s technology, basically they had to give over its innovation.

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