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States divest from China, citing fears of Pacific tension (2024)
| Environmental, social, and corporate governance |
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Over the past year, several state pension funds have joined a growing movement to divest from the People’s Republic of China, citing fears of potential tension in the Pacific and not ESG factors:
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A growing number of states are forcing public employee pension funds to divest from China, pulling out of the world’s second-largest economy because of hostility toward Beijing and fear that U.S. assets could be frozen if conflict breaks out in the Indo-Pacific. Five states — Indiana, Florida, Missouri, Oklahoma and Kansas — have directed state fund administrators to begin the divestment process over the past year. And more are considering doing so — the latest sign of deteriorating relations between the U.S. and China. While the states that have taken such steps are heavily Republican, the trend reflects a souring in the perception of China in the U.S that goes beyond political parties. For years, pension funds clamored alongside U.S. companies to invest in a growing economy that many once believed would become less authoritarian as it modernized. Now the states are looking at China and seeing a pile-up of risks.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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