FILE PHOTO: Senator Marco Rubio questions U.S. Secretary of State Mike Pompeo during a Senate foreign Relations Committee hearing on the State Department budget request in Washington, U.S. April 10, 2019. REUTERS/Erin Scott
The group, led by Republican Senator Marco Rubio, say the bill is aimed at reversing a decision to allow federal employees and military service members to invest their retirement savings in a fund that includes China-listed stocks. In November 2017, the Federal Retirement Thrift Investment Board, an independent government agency that oversees the federal retirement plan, decided to shift the index it uses for its international stock investment fund to the broader MSCI All Country World ex-U.S. Investable Market Index, which represents 99% of the international equity market and is 7.5% weighted to Chinese companies.
Representative Mark Meadows, a staunch conservative and ally of President Donald Trump, is offering the same bill in the U.S. House.
samkai1401 China CCP severely interferes human rights via its economic power. Banning the investment on China will be an excellent way to stop its economy from growing rapidly. Its people, after prolong period of brainwashing, are just national machines. They post a threat to the world.
calpers 😳
Sounds like a good idea to me. Not that I’m against investing in China despite the fact I have a fundamental grievance with their communist govt. I think it will be better if we don’t saddle peoples retirements with that risk.
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Little marcorubio always getting in the middle of stupid stuff. How about doing something useful already?
How about Russia? asking for some of my Ky friends.
🙄
So all those lawmakers will liquidate any and all investments THEY have in China, too right? Right?