The chief investment officer of the California Public Employees Retirement System (CalPERS) held a similar position in China while working for the State Administration of Foreign Exchange.
CalPERS is funding Chinese military contractors and human rights abusers. And the appalling fact is that it is very hard to stop that practice because Wall Street is making tons of money from it; everyone else is doing it, there seems to be no other viable alternatives, and it might be too late to decouple now.
But is it really too late? How big is China’s footprint in the U.S. capital markets? What’s the true face of these investments? Can they bring financial securities to Americans, or will they make the country more vulnerable? Is now the last chance to change it? We will explore these questions in this episode of Zooming In.