A recent state-sponsored Chinese hacking operation targeting the U.S. Treasury Department has raised global concerns, with Gordon Chang warning on Newsmax on Monday about severe risks to American financial security and global markets.
Gordon Chang, author of "Plan Red: China's Project to Destroy America," discussed the implications of the attack during an interview on "Rob Schmitt Tonight," expressing skepticism about the Biden administration's reported assertion that the compromised materials were unclassified.
"No, I don't [believe them]," Chang said. "And the other thing is that a hack of the U.S. Treasury sends shudders not just through the U.S., but around the world because of the dollar, because of the U.S. financial markets."
China's hacking activities have been a known threat since the 1990s, Chang noted, and the U.S. has the technological capacity to defend against such cyber intrusions. However, he emphasized that the issue stems from a lack of political resolve.
"We need better defenses on our networks, but we also need a political establishment willing to impose those costs on China for this unacceptable behavior," Chang said.
The Biden administration has faced criticism for its handling of cyber threats from China, with calls for more robust responses. Chang expressed hope that stronger measures would be implemented under President-elect Donald Trump when he returns to office.
"I hope that come Jan. 20, President Trump imposes those costs to get the Chinese to stop this because it's getting very, very dangerous," Chang stated.
A Chinese state-sponsored hacking operation infiltrated the U.S. Treasury Department, exploiting third-party software to access the desktop computers of Treasury employees in what officials have described as "a major incident," according to NBC News.
Experts warn that as cyberattacks grow more sophisticated, stronger coordination between public and private sectors is essential to mitigate the risks to global and national economic security.
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Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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