FILE - The American and Chinese flags wave at Genting Snow Park ahead of the 2022 Winter Olympics, Feb. 2, 2022, in Zhangjiakou, China. Some U.S. states are scrapping investments in Chinese companies amid tensions between countries with the world's largest economies. JEFFERSON CITY, Mo. — As state treasurer, Vivek Malek pushed Missouri’s main retirement system to pull its investments from Chinese companies, making Missouri among the first nationally to do so.
But some investment officials and economists have raised concerns that the emerging patchwork of state divestment policies could weaken investment returns for retirees. Yet this isn’t the first time that states have blacklisted particular investments. Numerous states, cities and universities divested from South Africa because of apartheid before the U.S. Congress eventually took action. Some states also have divested from tobacco companies because of health concerns.
Indiana last year became the first to enact a law requiring the state’s public pension system to gradually divest from certain Chinese companies. As of March 31, 2023, the system had about $1.2 billion invested in Chinese entities with $486 million subject to the divestment requirement. A year later, its investment exposure in China had fallen to $314 million with just $700,000 still subject to divestment, the Indiana Public Retirement System said.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ksatnews - 🏆 442. / 53 Read more »
Source: wjxt4 - 🏆 246. / 63 Read more »