Bass, founder of Hayman Capital Management, made the comments during a wide-ranging interview with Chris Powers on The Fort podcast.

"We afford them what I call battlefield asymmetries that we should not afford to them," Bass told Powers. "It doesn't matter who you are in China; you can come to the U.S., you can buy 10,000 acres of farmland in Iowa, you can buy farmland in Texas, or you can buy 100,000 acres of land between our most active airbase and the border, which happened here in Texas. You can't believe that these things are happening."

Bass, who is also the founder of Conservation Equity Management, a Texas-based private equity firm focused on environmental sustainability, highlighted the stark contrast between U.S. policies and China's restrictions on foreign land ownership, emphasizing the lack of reciprocity between the two superpowers.

"If you and I want to go buy land in China, do you know how successful we'd be? Zero—we would not; they wouldn't, they don't allow it. Reciprocity is really important; every single one of our internet search engines and social media companies is banned in China, and yet when TikTok gets banned here, or actually just got an order to be forcibly sold to an American company, they lose their mind," the investor said.

Bass further criticized how China exploits the openness of American society while maintaining a tightly controlled system at home.

"When every single one of ours is banned over there, they manipulate everything that we do, and we are an open society; they are a closed society," Bass explained. "They navigate, manipulate every single crack and crevice in our openness to take advantage of us."

Bass also addressed how China counters U.S. efforts to regulate land purchases by framing opposition as on so-called discrimination:

"When you ask about them buying land, it's absolutely insane that they can buy land in size over here, and then what they do when you start being more vociferous, or you even start to draft legislation to prevent it - they get like local real estate agents that are Chinese, Chinese Americans, or naturalized Chinese citizens, and they say, 'You are just a racist; how can you tell a Chinese family in America that's become Americans they can't buy a house?' They create false equivalencies and functional racism, and they throw it all at the screen, and they were trying, you know, now they have you on your back feet; it's just insane what they do.