Throwing out pension fund from investments
The president of the United of America has finalized that his administration authority has urged for the withdrawal of massive amount in the US pension funds expenditures in China and other same actions are under reflection. The relations of the US and China have collapsed after the coronavirus epidemic. The United States has expressed unsatisfaction over Beijing’s handling of COVID-19. As per the reports, the China has also been blamed for plundering intellectual property as well as research work.
When asked about the information that America had thrown out numerous US pension funds in the Chinese investment, the United States president said that Yes, I have pulled the investments back. He was urged whether he will force Chinese firms to follow all conditions for listed at the New York Stock Exchange. Reportedly, the Chinese enterprises like Alibaba are listed on the New York Stock Exchange, but they don’t report earnings the way an American firm does and hence we are pulling out US pension funds in investments.
Furthermore, he said that China is taking actions against the United States of America lawmakers who have introduced a law in the Senate planning sanctions against the China for its handling of the coronavirus pandemic.