Trump administration pulls out US pension fund investment from China
Amidst the coronavirus havoc, the US has begun to take actions on China. US President Donald Trump has confirmed that his administration has asked to withdraw billions of dollars of US pension fund investment from China and other similar measures are being considered. Already strained relations between the US and China have deteriorated after the Coronavirus outbreak. The US has expressed disappointment over China’s stance in dealing with the coronavirus. The Coronavirus Covid-19 has killed more than 80,000 people in the US so far. China has also been accused of stealing information related to Corona’s intellectual property and research work.
On Fox Business News, when Trump was asked about reports that the US had withdrawn billions of dollars of American pension funds from Chinese investment, the president said, “Billions of dollars, billions … yeah, I pulled it back.” In another question, the president was asked whether he would force Chinese companies to comply with all conditions to be listed on the US stock markets.
The interviewer stated that Chinese companies such as Alibaba have been listed on the New York Stock Exchange, but do not share earnings information the way an American company do. Donald Trump said, “We are paying very close attention to this matter. This is very surprising, but there is a problem in this case. Suppose we do this (forced to obey the conditions), okay? Then what will they do? They would go to London or list it elsewhere.”
Meanwhile, according to some news reports, China is considering taking action against US lawmakers who have tabled a proposal in the Senate seeking a ban against China for being negligent in dealing with the Coronavirus outbreak. Due to Corona virus, a cold war has emerged between the US and China. While the US is blaming China for the Coronavirus, China continues to deny these allegations.
