Worse than Wuhan virus – US indexes enable the present danger China
Arguably, the best article published since we learned of the coronavirus outbreak last January appeared in today’s Washington Post. Columnist Josh Rogin called Wall Street’s practice of using passive index funds to insinuate problematic Chinese companies into our capital markets “an even bigger financial threat” than the Wuhan Flu.
Arguably, the best article published since we learned of the coronavirus outbreak last January appeared in today’s Washington Post. Columnist Josh Rogin called Wall Street’s practice of using passive index funds to insinuate problematic Chinese companies into our capital markets “an even bigger financial threat” than the Wuhan virus.
Rogin cites President Trump’s National Security Advisor, Robert O’Brien, as stating recently: “I don’t see why we should be underwriting the Chinese defense industry.” Ditto, one might add, why finance PRC companies that help Beijing repress its people, colonize nations around the world or dominate space?
Rogin’s warning comes as the federal government’s Thrift Savings Plan is poised to compel servicemen and women, Members of Congress and other government employees to start investing in such Chinese corporations. We must curb both the threat of the Wuhan virus and of indexes that invest in our enemies.
This is Frank Gaffney.
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