Arrest of Hong Kong freedom leader point of no return, time to divest U.S. from China

Aug. 10, 2020, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement blasting the Chinese Communist Party arrest of Jimmy Lai, and urging President Donald Trump to instruct Labor Secretary Eugene Scalia to bar private pension investments in non-transparent Chinese state-owned companies just like the U.S. has done for federal employees:

“The arrest by the Chinese Communist Party of Jimmy Lai, a man who has put his wealth and liberty at risk through his defense of freedom for Hong Kong, must be answered by more than words.  Two weeks ago, Americans for Limited Government and about 240 other freedom lovers across our great country submitted a letter to Labor Secretary Eugene Scalia calling for the divestment of U.S. private retirement accounts from Chinese investments. The letter signed by luminaries like former Vice Admiral John Poindexter, former Attorney General Ed Meese, former Senator Jim DeMint and former Congressman Frank Wolf made both the legal and moral case for divestment writing, ‘By allowing investments into these [Chinese] companies, the Labor Department is effectively making individual 401(k) owners or pensioners parties to and profiteers from the exploitation of the victims of such cruel abuse. This is wholly repugnant and unacceptable.’

“The United States government needs to create a proportionate response to the Chinese Communist Party’s crushing of a free press in Hong Kong, and it is no longer tolerable or acceptable to allow Wall Street appeasers to put our nation’s retirement accounts at risk keeping afloat what can only be termed an ‘evil’ government. Beijing understands dollars and depends upon U.S. capital investments to continue to prop up its house of cards economy.  President Trump should announce immediately that he is instructing the Labor Department to begin this divestment process to be completed by December 31, 2020.  It is the moral and legally correct way forward, and the blood and courage of Hong Kongers like Jimmy Lai demands it.”

Attachments:

“If risky Chinese investments are unsuitable for federal pensioners, they’re unsuitable for private pensioners, too.” By Rick Manning, July 10, 2020 at http://dailytorch.com/2020/07/if-risky-chinese-investments-are-unsuitable-for-federal-pensioners-theyre-unsuitable-for-private-pensioners-too/

“Why are American pensions and mutual funds investing $251 billion in Chinese equities and bonds built on child and slave labor?” By Robert Romano, Aug. 3, 2020 at http://dailytorch.com/2020/08/why-are-american-pensions-and-mutual-funds-investing-251-billion-in-chinese-equities-and-bonds-built-on-child-and-slave-labor/

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 or at media@limitgov.org.

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