The American people have been lied to for years.
We have been told that “decoupling” from China is too hard, too difficult and all but impossible. Treasury Secretary Janet Yellen has said so. Recently, the CEO of Raytheon, a major defense contractor, absurdly insisted that his company needed China to manufacture products to arm America’s military.
Meanwhile, the appropriately named Larry Fink of BlackRock is busying himself with KowTowing to Chinese communist dictator Xi Jinping to gain access to Chinese financial markets, while forcing woke policies on his fellow Americans. Bill Gates is playing the same game.
But that doesn’t mean the rest of America has to go along with this nonsense. There are many Americans who recognize that the Chinese Communist Party (CCP) is an enemy of America and a nefarious force globally, whether it’s their military threats, their lies, their theft, or their cheating.
Why should we pay for our enemies to harm us? Why should we invest in our enemies’ industries and economy? The answer to these questions, of course, is we should NOT.
Thanks to State Senator Dennis Guth of Iowa we finally have an example of how this can be stopped.
Senator Guth authored a bill in the Iowa Senate that prohibit’s Iowa’s taxpayer-supported public pension system (IPERS) from investing in companies owned or controlled by the Chinese military or government. The bill passed the Iowa Senate and House of Representatives overwhelmingly and Governor Kim Reynolds signed the legislation into law last month.
While excluding investments in companies owned or controlled by the Chinese government or military might seem like common sense, many on Wall Street opposed the legislation. While it is impossible to know what is in the hearts and minds of those who opposed Senator Guth’s efforts, their opposition may stem from the fact that seemingly simple categories of “government or military” are actually more far-reaching than meets the eye.
That’s because every Chinese company—without exception—is owned or controlled by either the Chinese People’s Liberation Army (PLA) or the Chinese Communist Party (CCP) in some way, shape or form. One of these two entities, or some combination of the two, will exert control over 50% of the stock of Chinese companies.
So, the Iowa legislation flies in the face of the so-called “Panda Huggers” on Wall Street and in Silicon Valley who are betraying the USA in favor of their business colleagues in the People’s Liberation Army or Chinese Communist Party.
Iowa has shown how it can and should be done. The $40 billion IPERS fund will now begin the process of seeing to it that Iowans are not funding America’s enemies in Beijing. Now is the time for every state in America to pass similar legislation.
Similar state divestment movements helped end the apartheid regime in South Africa in the 1970s and 1980s and prompted many Western corporations to pull out of Iran and Sudan in the early 2000s.
Did Iowa fire the shot heard round the world? Let’s hope so.
Senior Analyst and Director of State Outreach.
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