The rising number of nonperforming loans has been a problem in China’s economy; last year ended with almost the highest percentage of loans outstanding in over a decade. President Trump’s tariffs were having a real effect on the Chinese economy. It brought its leaders to the table to deal with vital issues like China’s theft of American intellectual property and its blocking of market access for American manufacturers. But now this part of the agreement with China throws open the gates to American capital. They now get to keep up their exploitation, with our money.

For decades, China has used Wall Street’s hunger for profit to lure American capital into a trap: the Communist Party’s clear intent of displacing the United States as the world’s economic and military superpower. This accord will result in American capital flowing to the government-owned companies that China props up to undermine our country. This is not a win.

Investing American capital in China may earn better returns in the short term. But it will come at a tremendous cost in the long term.

American dollars aren’t being invested in Chinese companies that succeed based on their honest business model and ability to grow. They are being invested in companies that exist to serve a Chinese Communist Party intent on undermining America, human rights and religious liberty.

Allowing the savings of Americans to be linked to the success of the Chinese government and Communist Party is a grave error we will come to regret. Beijing’s state planners couldn’t have written the financial services section better if they tried. They’ll get to finance their industrial ambitions with the deepest, most liquid capital markets in the world — our own.