China Owns Wall Street
Members of both political parties have been working to prevent American dollars from funding the Chinese military — and Wall Street investors hate it.
Both Presidents Joe Biden and Donald Trump signed executive orders that prevented companies tied to the Chinese military from being traded on Wall Street. Because all Chinese businesses are under the thumb of the Chinese Communist Party, there is rare bipartisan support for keeping these businesses off Wall Street.
But top American investors don’t seem to care about China’s rapid encroachment into American lives. In fact, they’re actively supporting it so they can make a few bucks for their hedge funds while everyday Americans suffer.
CCP-controlled companies have used several dirty tricks to get their hands on American dollars. They convinced high-ranking officials to give them a “free pass” to skip regulations put in place after the fall of Enron. CCP companies like Luckin Coffee and Kangmei Pharmaceutical have used skewed accounting which resulted in the “malicious cheating” of investors. And American investors suffered heavy losses between 2009 and 2012 after fraudulent Chinese companies used reverse mergers to takeover dormant American companies.
Many of these companies pose major threats to the U.S. Some of them are even included on the U.S. government Entity List and the OFAC Sanctions List meaning that they are considered to be “acting contrary to the national security or foreign policy interests of the United States” or they pose a “threat to the national security, foreign policy, or economy of the U.S.” But Wall Street investors don’t care as long as they keep making money.
The greed of these investors should disgust Americans. While investment leaders chide American companies for not being “green” or “woke” enough, they ignore the human rights atrocities, fraud, and pollution created by the Chinese Communist Party.
Clearly, Wall Street won’t do anything to counter China. Congress must continue the bipartisan effort to keep the CCP out of American pocketbooks.