The Biden administration recently announced new restrictions on U.S. private investment in certain high-technology sectors in China, in an effort to prevent U.S. firms from aiding the development of technologies that could benefit the Chinese military. However, these restrictions do not cover the investment by Wall Street firms through index funds, which indirectly support Chinese companies connected to the People’s Liberation Army or involved in human rights abuses. Lawmakers are concerned that this loophole allows Wall Street to fund Chinese companies that are working against U.S. interests and values. More transparency and restrictions are needed to address this issue and protect U.S. national security.
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