Shannon Brandao
Shannon's excerpt from the article: "😶 Axios [excerpt]: U.S. public #pensions have invested more than $68 billion into private Chinese entities over the past three years, ending June 30, according to data from pro-democracy #trade advocacy group Future Union.
Why it matters: The Biden administration in August implemented narrow restrictions on American #investment in Chinese #tech companies, but some elected officials are pushing for more.
By the numbers: 42 states have at least one public pension that has made PE/VC investments in mainland #China or #HongKong.
17 states have at least one #publicpension with at least 2% of its assets under management invested in China-based private companies or private investment funds (e.g., venture capital and private equity), per Future Union's analysis.
What we're watching: The House Select Committee, with which Future Union says it's sharing data, recently issued a report that concludes that China's economic system is 'incompatible with the WTO.'
Among other policy recommendations, it argues for an end to U.S. #privateequity investments in China, along with disclosures of existing investments and quick divestments that would get the capital redirected to U.S. businesses."
#news #business #geopolitics