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TRENDING:

US to Introduce Bill Banning Investment in Firms Tied to Chinese Military

A group of Republican lawmakers plans to unveil legislation this week to keep Americans from investing in foreign defense companies with ties to China’s military, according to a document seen by Reuters, the latest in a string of measures aimed at curbing US funding for China-based firms.


Matthew 24:7 KJV – “For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places.”


Representatives Mike Gallagher, Jim Banks and Doug LaMalfa plan to introduce the bill, which would require Treasury Secretary Steve Mnuchin to submit a report to Congress listing foreign defense companies that have “substantial contracts with, ties to, or support from” the Chinese military.

Six months after the report is issued, American companies and citizens would be required to divest from those firms and would be banned from making new investments in them.

“On one hand, Congress is asking taxpayers to help grow our military so we can compete with China. On the other hand, large US investment funds are dumping US dollars into China’s military industrial base,” Banks said in a statement. “We need to end our cognitive dissonance and stop funding the rise of our chief global adversary.”

The move comes as the US government has begun extending its trade and technology battle with Beijing to capital markets, as ties between the rival nations have soured over the origins of the deadly coronavirus.

While it was not immediately clear if Democrats or other Republicans would support the bill, anti-China sentiment is running high in the Capitol after China moved to curb Hong Kong’s independence. Both the Democratically-led House of Representatives and the Republican-controlled Senate approved legislation to punish top Chinese official for human rights abuses against Uighur Muslims.

On Friday, President Donald Trump said his administration will study ways to safeguard Americans from the risks of investing in Chinese companies, ratcheting up pressure on the firms to comply with US accounting and disclosure rules.

Earlier this month, an independent board tasked with administering federal worker and military pension funds halted plans to allow one of its funds to track an index that includes controversial Chinese companies, under pressure from the White House.

Those moves came after China’s Luckin Coffee, which trades on the Nasdaq stock exchange, said in April that as much as 2.2 billion yuan ($310 million) in sales last year had been fabricated.

The revelation strengthened the position of China hawks in the Trump administration who argue that investors in Chinese companies are vulnerable to unforeseen risks because they are not subject to the same auditing and disclosure rules as US companies.

The Senate passed legislation earlier this month that could prevent some Chinese companies from listing their shares on US exchanges unless they follow standards for US audits and regulations.

Chinese Military
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SOURCE

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A group of Republican lawmakers plans to unveil legislation this week to keep Americans from investing in foreign defense companies with ties to China’s military, according to a document seen by Reuters, the latest in a string of measures aimed at curbing US funding for China-based firms.


Matthew 24:7 KJV – “For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places.”


Representatives Mike Gallagher, Jim Banks and Doug LaMalfa plan to introduce the bill, which would require Treasury Secretary Steve Mnuchin to submit a report to Congress listing foreign defense companies that have “substantial contracts with, ties to, or support from” the Chinese military.

Six months after the report is issued, American companies and citizens would be required to divest from those firms and would be banned from making new investments in them.

“On one hand, Congress is asking taxpayers to help grow our military so we can compete with China. On the other hand, large US investment funds are dumping US dollars into China’s military industrial base,” Banks said in a statement. “We need to end our cognitive dissonance and stop funding the rise of our chief global adversary.”

The move comes as the US government has begun extending its trade and technology battle with Beijing to capital markets, as ties between the rival nations have soured over the origins of the deadly coronavirus.

While it was not immediately clear if Democrats or other Republicans would support the bill, anti-China sentiment is running high in the Capitol after China moved to curb Hong Kong’s independence. Both the Democratically-led House of Representatives and the Republican-controlled Senate approved legislation to punish top Chinese official for human rights abuses against Uighur Muslims.

On Friday, President Donald Trump said his administration will study ways to safeguard Americans from the risks of investing in Chinese companies, ratcheting up pressure on the firms to comply with US accounting and disclosure rules.

Earlier this month, an independent board tasked with administering federal worker and military pension funds halted plans to allow one of its funds to track an index that includes controversial Chinese companies, under pressure from the White House.

Those moves came after China’s Luckin Coffee, which trades on the Nasdaq stock exchange, said in April that as much as 2.2 billion yuan ($310 million) in sales last year had been fabricated.

The revelation strengthened the position of China hawks in the Trump administration who argue that investors in Chinese companies are vulnerable to unforeseen risks because they are not subject to the same auditing and disclosure rules as US companies.

The Senate passed legislation earlier this month that could prevent some Chinese companies from listing their shares on US exchanges unless they follow standards for US audits and regulations.

Chinese Military
CLICK HERE FOR
SOURCE

Today's News Needs A Biblical Analysis.

Your Gift Today Helps Harbinger's Daily Reach More People With The Truth of God's Word.

Are The Jewish People Being Set Up For The Ultimate Betrayal?

This is the classic set-up right now! A charismatic man is waiting in the wings. He will seduce the “left behind” world, but he will mesmerize many Jews because they are being primed to be told that a benevolent dictator is their best friend and will never betray them--ever.

As A Pastor, I Will Not Stand By Idly As The Horror Of Antisemitism Unfolds Before Our Eyes

As Bible-believing Christians we should understand that the Jews have always been and always will be God’s chosen people. Antisemitism is evil, and as leaders and followers of Jesus we must speak out against it loudly and constantly.

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Has The Bride Of Christ Made Herself Ready For His Return?

In the Scriptures, we know that the church is the bride of Christ.  But during this time when we are awaiting the upward call of our Bridegroom, how are we living? 

ABC's of Salvation

TV AD

worldview matters

Decision Magazine V AD

TV AD

Amir V Ad #1

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