American Pension Funds have invested billions in China despite U.S. officials’ alleged desire to divest from Communist China.
CCP, the Chinese Communist Party is America’s most existential enemy. CCP has a dictatorship that is authoritarian and genocidal. Americans can’t accept the CCP wanting to subvert or overthrow America.
According to The Epoch Times, American pension funds are continuing to invest heavily in China despite the White House’s insufficient attempts to divest. Why do U.S. companies continue to profit and support CCP?
According to data released by Future Union, American public pensions invested $68 billion in the last three years.
New York and California, are the worst offenders. According to Epoch Times, New York State Common Retirement Fund, also known by its acronym, NYSCRF, had contributed $8.392 in cash to pension fund funds. California Public Employees Retirement System (also known as California State Teachers Retirements System) ($7.8 Billion) and California State Teachers Retirements System (5.59 B
Epoch Times informed readers that state pension funds and local pension funds are seeking solutions to their unfunded liabilities. These liabilities are in the billions.
According to a recent Truth in Accounting Report entitled “Financial Status of Cities”, the local pension debt was almost $176 billion, and post-employment benefits such as health insurance exceeded one hundred thirty-five million dollars.
According to the Epoch Times academic endowments like the University of California, the University of Texas, and the University of Michigan invested in Chinese private funds. Andrew W. Mellon Foundation, MacArthur Foundation, and others have also made private fund investments in China.
Biden’s White House made at least a pretense to acknowledge the issue of Chinese investments. Epoch Times reported that the current administration had issued an executive order banning investments in certain Chinese sectors, including artificial intelligence, semiconductors, and quantum computing.
Future Union (via Epoch), sums up the problem perfectly. The U.S. Tax Code, it says, allows wealthy individuals to continue giving generously while taking risks to protect their wealth through legal tax status exemptions.
