More Warnings of U.S. Dependence on Goods Produced in China, and CalPERS Investments in China’s Military

The coronavirus has exposed the pipeline from China to American products.  Whether it is drugs, technology, car parts and much more, we are dependent on the Chinese—a totalitarian nation. Then we have CalPERS which has invested in Chinese Communist MILITARY vendors—to enslave their people and the world.  One good thing to come out of this crisis is the recognition by American government leaders that we need to break the chains on us held by the Chinese.

“The California Public Employees’ Retirement System is the largest public pension fund in the nation. “The fund has invested $3.1 billion in Chinese companies, some of which have been blacklisted by the U.S. government,” Banks told FOX Business’ Maria Bartiromo.

In a Tweet, Banks wrote:

@GovernorNewsom, please explain why someone recruited by a Chinese org described by FBI as a “non-traditional espionage” program is making investment decisions for CalPERS. Also US dollars should never be funding Chinese military or oppression of Uighurs!

More recently, with the outbreak of Coronavirus which originated in China, which was dishonest about the timing of the spread of the disease, Rep. Jim Banks has called for the United States to reduce its dependence on important goods and products from China, such as pharmaceuticals.”

The time has come to disinvest, as we did in the past against South Africa, tobacco stocks and more.  Why should we finance those who harm us?

SACRAMENTO, CA – JULY 21: A sign stands in front of California Public Employees’ Retirement System building July 21, 2009 in Sacramento, California. CalPERS, the state’s public employees retirement fund, reported a loss of 23.4%, its largest annual loss. (Photo by Max Whittaker/Getty Images)

More Warnings of U.S. Dependence on Goods Produced in China, and CalPERS Investments in China’s Military

‘Why we are sending American capital to a country popping out a couple of destroyers and frigates every month?’

By Katy Grimes, California Globe,  3/16/20 

Last month, California Globe reported about Rep. Jim Banks’ (R-IND) letter to sent California Governor Gavin Newsom, calling for the investigation of the CalPERS Chief Investment Officer Yu Ben Meng, for his “long and cozy relationship with China.”

The California Public Employees’ Retirement System is the largest public pension fund in the nation. “The fund has invested $3.1 billion in Chinese companies, some of which have been blacklisted by the U.S. government,” Banks told FOX Business’ Maria Bartiromo.

In a Tweet, Banks wrote:

@GovernorNewsom, please explain why someone recruited by a Chinese org described by FBI as a “non-traditional espionage” program is making investment decisions for CalPERS. Also US dollars should never be funding Chinese military or oppression of Uighurs!

More recently, with the outbreak of Coronavirus which originated in China, which was dishonest about the timing of the spread of the disease, Rep. Jim Banks has called for the United States to reduce its dependence on important goods and products from China, such as pharmaceuticals.

Banks also told Tucker Carlson, President Donald Trump should force China to pay for the cost of Coronavirus in the U.S. One option is for China to erase the U.S. debt owed to China. Banks said he would be introducing legislation in conjunction with the Trump administration.

Banks said the U.S. Veterans Administration and Department of Defense immediately needs to stop buying medical equipment from China, which he refers to as “our chief global rival.”

Recently, Robert O’Brien, Assistant to the President for National Security Affairs, spoke to a Heritage Foundation event about about his current work to streamline the National Security Council, make information coming to the President more focused and relevant, and the implementation of security decisions more timely and effective.

During his talk, an audience member asked him about the issue of security from American dependence on China for so many products, as well as CalPERS’ investment in China’s military.

O’Brien said his agency is “taking a look at why we are sending American capital to a country popping out a couple of destroyers and frigates every month.”

“I don’t see why we should be underwriting China’s defense and industry. I’d rather underwrite the U.S. Defense industry with our retirees’ money,” he added.

You can watch O’Brien’s talk at the link below. Jump ahead to the 40:00 mark for the discussion about China and CalPERS.

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.

Comments

  1. Totallyfedup says

    CALPERS, FIRE THAT DAMN COMMUNIST MENG NOW.

  2. The DNC is a front organization for the communist party (same agendas) and the DNC runs California as well as most depressed large cities in the U.S.. So why wouldn’t they invest in a Communist economy?

  3. Calipers should be allowed to sink.
    Shine the spotlight on these Commies – their days are over.

    And now their pension plans will be in real trouble. I say the Calipers participants have a problem, not the State.

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