Posted on 09/02/2021 11:48:02 AM PDT by DFG
California's state pension invested hundreds of millions of dollars in Chinese state-owned enterprises linked to the People's Liberation Army, according to records reviewed by the Washington Free Beacon.
The California Public Employees' Retirement System (CalPERS) had more than $3 billion invested in Chinese companies, including 14 state-controlled enterprises blacklisted by the Trump administration, as of June 2020. Many of these companies are funding the Belt and Road Initiative, a massive infrastructure project Beijing is using to expand its geopolitical and military influence.
Gov. Gavin Newsom (D., Calif.), who recently praised a Chinese-owned media company for its "journalistic integrity," has not commented on CalPERS's Chinese investments. It is a notable silence from the embattled governor, who has called on CalPERS, the country's largest public pension system, to divest from tobacco companies and companies linked to the Turkish government. Newsom faces a recall election on Sept. 14.
CalPERS had more than $450 million invested in 14 Chinese companies the Trump administration put on an investment blacklist last year because of their ties to the Chinese military. President Donald Trump's executive order, which the Biden administration has continued, prohibited Americans from investing in companies that aid the Chinese military.
It is unclear whether CalPERS has complied with the executive order by divesting in the blacklisted companies. The pension fund declined the Free Beacon‘s requests for comment. CalPERS had more than $490 million invested in seven Chinese state-owned enterprises that, while not on the U.S. blacklist, are funding the Belt and Road Initiative, according to its 2020 investment report. CalPERS invested in some of the Chinese companies as early as 2016, records show.
(Excerpt) Read more at freebeacon.com ...
Somebody supported these stupid Democrat sons of bitches.
China wants to destroy the United States.
It is as if California would have placed their pension funds in the Soviet Union in 1928.
Larry has his work cut out for him.
I’m not real confident in any of our pension plans these
days.
By the time people are old enough to get their pensions they will be living under a Chinese flag and bowing humbly to Communists several times a day. Get used to it, Dem Californians.
All the cops pensions are tied to and funded by the Chinese Communist? Why am I not surprised?
Any wonder they literally BOW DOWN to the Chicoms.
The Chinese Communist Party will gladly take the money and say thank You Fools
Oh wait they have Nancy to Bail them out with some stupid Global Warming or Infrastructure Bill
mark
“By the time people are old enough to get their pensions they will be living under a Chinese flag and bowing humbly to Communists several times a day. Get used to it, Dem Californians.”
If the Chinese acquired California.
Will natural resource extraction be allowed?
It hurts me to say this: “They might be an improvement.”
This makes sense. After all, “They only have 180 days to make the students into revolutionaries.”
So does New Jersey’s.
bookmark
Decades ago I put my IRA into an international stock mutual fund, but not until I verified it did not invest in China. It has maintained the same policy and done well. I believed back then PRC financial markets were characterized by unexcelled lawlessness. Nothing has occurred since then not to regard investing in them as moronic and dilutional.
"China wants to destroy the United States."
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.