CalPERS should stop underwriting China’s malevolence

Jim Banks is a naval officer and veteran of the Afghan war. He’s continuing to fight our country’s adversaries in his current role as a member of the U.S. House of Representatives.

Rep. Banks has been commendably focused on a largely neglected battlefront: the use Communist China is making of U.S. capital markets to fund its military build-up, domestic repression and other ominous activities. Notably, he’s introduced legislation that would keep our service personnel and civilian government employees from having their pension funds invested in malevolent Chinese companies. 

Last week, the Congressman urged California’s governor to fire a Chinese expatriate named Yu Ben Meng who has enthused about his commitment to “work for the motherland” via Beijing’s espionage-tainted “Thousand Talents Program.” Meng shouldn’t be investing billions of dollars of retired California employees’ pensions in corporations tied to the Chinese Communist Party. 

This is Frank Gaffney.