Americans for Limited Government: China stock market cheating signals time for divestment

Trade guy 1600x900
Gerd Altmann/Pixabay

Americans for Limited Government: China stock market cheating signals time for divestment

Americans for Limited Government has issued the following press release:

April 11, 2022, Fairfax—Americans for Limited Government President Rick Manning issued April 11 the following statement in response to reports of Chinese corporations engaging in insider trading:

“China cheats outside investors as a matter of policy, and there is no excuse for allowing Chinese companies to be part of American stock exchanges any longer.  What's more, all doubt has been removed that Chinese investments should be purged from all pension and other federal government sanctioned retirement funds as they are clearly unsuitable under the standards set under the Employee Retirement and Investment Securities Act (ERISA). In addition, every state and locality should examine their holdings, removing exposure to Chinese investments in order to protect their taxpayer interests from equities and bonds which are only as good as the Chinese Communist Party says they are."

"While the national security issues with investments in Chinese multi-nationals have been obvious for a while, the Wall Street Journal has reported on a new study which outlines a number of instances where well-connected Chinese investors jumped to the head of the line to take advantage of news that caused stocks to rapidly decline in what would be prosecutable insider trading within the United States. If hedge funds and other riskier investment managers wish to play Chinese roulette with their shareholders money that’s between them and their clients, but these investments have no place in retirement funds. It is time for the Labor and Treasury Departments to protect American retirees by banning non-transparent Chinese investments.”

To view online: https://getliberty.org/2022/04/insider-trading-by-chinese-corporations-harming-small-investors/

For media availability contact Americans for Limited Government at 703-383-0880 or media@limitgov.org.

Americans for Limited Government is dedicated to fighting for the survival of America by restoring constitutionally limited government, allowing individuals to pursue life, liberty and happiness. For more information on ALG please visit our website at www.getliberty.org and www.dailytorch.com.

More News