'American military and intelligence officials are growing increasingly concerned about China's expanding global influence which they say is being fueled by its 'weaponizing of capital'.
In testimony before Congress on Wednesday, the top commanders of the United States Navy and the Marine Corps told lawmakers that Beijing's 'open checkbook' is 'keeping them up at night.'
They said the Asian giant is buying up more land and growing in power without firing a shot, enabling it to 'win without fighting.'
'When it comes to China, the bottom line there is the checkbook,' Navy Secretary Richard V. Spencer told legislators on the House Appropriations defense subcommittee, according to The Hill.
'Not only in the dollars and cents that they are writing to support their military expansion and their technological work, but what they're doing around the globe ... weaponizing capital.'
Spencer was referring to a recent deal in which Chinese companies paid $1.12billion for controlling interest in a deep-sea port, Hambantota, in Sri Lanka.
The deal has raised concerns, particularly in countries such as India and the US who are known to be worried that such a foothold could give it a military naval advantage in the Indian Ocean.
'Their open checkbook keeps me up at night,' Spencer said.'
Read more: China is trying to 'win without fighting': US military 'kept up at night' by Beijing's open checkbook and global expansion, while spies fear American universities are being infiltrated
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