WASHINGTON, Feb. 4 -- Sen. Kevin Cramer issued the following press release:
As of 2019, there were 115 Export Credit Agencies (ECA) globally, each competing to help industry within their country secure market access across the globe. China has two ECAs, both which support its Belt and Road Initiative, which facilitates Chinese global industrial development. According to the Center for Strategic and International Studies (https://www.csis.org/analysis/us-exim-bank-age-great-power-competition), "In 2022, it is estimated that the PRC's official medium- and long-term export credit support was $11 billion. In comparison, the United States' official medium- and long-term export credit support stood at $2.7 billion."
Since its inception as an EC...