Newsweek investigation adds to growing demands that the U.S. federal retirement system exclude the option for investment in sanctioned Chinese companies
investigation showed that at least 115 of the mutual funds on offer contained one or more of 30 Chinese companies that appear on at least one of nine sanctions or watchlists governed by agencies ranging from the Department of Defense and Homeland Security to the U.S. Commerce and Treasury Departments. The analysis was carried out exclusively forby Washington D.C.-based consulting firm Kilo Alpha Strategies, using data from the Coalition for a Prosperous America, a research and advocacy group.
Soldiers from the Chinese People's Liberation Army assemble during military training in Kashgar in northwestern China's Xinjiang region in 2021. U.S. lawmakers are raising growing concerns over the federal retirement plan allowing investment in companies that are part of the Chinese military industrial complex.
"Under no circumstances should the retirement accounts of service members, federal employees, or state officials capitalize the Chinese Communist Party, fund forced labor, or build the weapons that could someday be used against us on a field of battle," Gallagher said in a statement provided to.
Each said it was wrong for the TSP to allow public servants to bolster companies linked to the Chinese Communist Party. Other companies make solar energy panels, and are sanctioned for using forced labor in China's western region of Xinjiang, where millions of ethnic Uyghurs and other minorities have been subjected to severe human rights abuses, according to the U.S. government, the, Uyghur rights groups, and other NGOs. The Chinese government denies the accusations.
Officials with the White House and National Security Council did not respond to multiple requests for comment.The whole thing"is sort of mind boggling," said Matt Turpin, a fellow at the Hoover Institution specializing in U.S. policy towards China.
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