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| Economy |
| Billions in US pension funds invested in China despite serious national security concerns: expert |
| 2024-01-31 |
| [FoxBusinessNews] Public pension funds have invested more than $68B in China since 2020 Billions in American public pension funds have flowed into China over the last few years, a concerning trend for some experts who have noted the growing tensions between the U.S. and Beijing. A report by Future Union, a bipartisan nonprofit, found that U.S. public pension funds have invested over $68 billion in China since 2020, despite worsening relations between the two countries during the same period. The report, which was obtained by the New York Post, found that 56 of the 74 largest American pension funds have put money into the Chinese market during the span, with the report noting that the money has contributed to the "technological advancement of China." "In the past 12 months, 24 investments alone have been made [into venture capital and private equity funds in China,] which should be acknowledged as support for the technological advancement of China," the report said. "Our research indicates four of the largest US public pensions have invested in China in the last few months." One of the largest funds investing in China is the New York State Common Retirement Fund, the report found, which has invested more than $8.3 million in the Chinese market. Other top public pension funds have also invested billions, including the California Public Employees Retirement System, the California State Teachers System, the Washington State Investment Board, San Francisco Employees Retirement System and the Pennsylvania Public School Employees Retirement System, which have all invested between $3.2 billion and $7.86 billion in China. All told, U.S. public pension funds have invested more than $73.28 billion in China. Future Union Executive Director Andrew King told the New York Post the trend of pouring money into China is concerning, most notably as a result of the national security threat posed by China. "The threat posed by China to America’s national security is clear, yet the managers of our retirees’ pensions and university endowments continue to feign ignorance and rue accountability, undermining America’s national interests," King said. "That must end now." |
| Posted by:Skidmark |
| #1 California's CalPers tops the list! SEIU through and through, so my only hope is the commies will try and shield their commie brethren in Sacramento from the worst of it |
| Posted by: NoMoreBS 2024-01-31 16:19 |