Varney: US, China in ‘new Cold War’

Varney: China’s Hong Kong actions are global issue

FOX Business’ Stuart Varney argues China’s actions toward Hong Kong is an American issue.

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FOX Business’ Stuart Varney, in his latest “My Take,” argues China’s actions against Hong Kong impact the U.S.

“Scuffles in the Hong Kong legislature. Its pro-Beijing vs. pro-Democracy,” Varney said. “China is taking over. Whatever freedoms the people of Hong Kong enjoyed are going away. This is what the president says he will react strongly to. This is more than just a Hong Kong issue though. This is U.S. vs. China issue and that makes it very important for all of us. In short, it’s a new Cold War.”

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Varney said America is pushing back "hard" against China's dominance of the supply chain, their role and truthfulness over the virus and now its takeover of Hong Kong.

“This goes to the heart of who we are,” he said. “We can't meekly accept their blatant stealing and spying and lying.”

Varney believes the “Cold War” has already begun.

“The Senate has passed a measure that makes it hard for Chinese companies to list their shares on America’s stock exchanges,” he said. “In the world of money, that opens a financial chasm. Several senators have suggested China be made to pay for its dubious handling of the virus: that’s a financial chasm too.”

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Chinese President Xi Jinping applauds during the opening session of China’s National People’s Congress (NPC) at the Great Hall of the People in Beijing, Friday, May 22, 2020. (AP Photo/Ng Han Guan, Pool)

Varney noted that Sen. Rick Scott, R-Fla., wants Americans to avoid Chinese products and said the Democrats have been quiet on the subject of China.

“Although Sen. Kamala Harris says calling it ‘the Wuhan virus’ is xenophobic,” he added. “America needs a stronger line of support from the Democrats. We need to hear more from the left on China.”

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Varney believes there is “real danger here.”

“We are trying hard to come out of an economic disaster. But a knockdown fight with China has been thrust upon us,” he said. “The takeover of Hong Kong is the writing on the wall.”

This topic is personal for Varney because he got his start in media in Hong Kong and lived there for two years.

“My heart goes out to those brave people who fought in the streets for their right to speak freely,” he said. “I'm with 'em 100 percent.”

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