Are Your Savings Funding the Chinese Communist Party and the Chinese Military?

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Are your savings funding the Chinese Communist Party and the Chinese military?

Over the summer, I launched bipartisan investigations into Wall Street and Silicon Valley firms funneling Americans’ retirement savings into Chinese companies blacklisted by the US government.

We found hundreds of millions of dollars going into Chinese companies that build aircraft carriers and stealth fighter jets for China’s military, and design the Orwellian surveillance tools the CCP uses to facilitate its human rights abuses and genocide.

A new report from Coalition for a Prosperous America shows  just how widespread the problem is.

The report looks at asset-management giant Vanguard – the company that manages trillions of dollars and the savings of millions of Americans

If you want to be shocked, examine just ONE of Vanguard’s flagship emerging markets funds:

60 subsidiaries of Chinese Military Industrial-Complex Companies. 

56 subsidiaries of Chinese Military Companies operating in the U.S. to support the PLA.

20 companies that are prohibited from using American technology because of their ties to the PLA.

8 companies that use Uyghur forced labor.

And many more developing quantum, AI, and semiconductors for the PRC.

Many of these companies are creating weapons systems that may be targeting American servicemembers as we speak. 

Vanguard is directing Americans’ savings to fund our own potential destruction. God forbid there is ever a Taiwan Strait conflict where weapons that Vanguard underwrote are used against American men and women in uniform.

And President Biden’s recent executive order on outbound investment does nothing to stop this. It’s up to Congress to pass legislation. We need to send a message to Vanguard: You’re enabling genocide, you’re placing our partners in the region in mortal peril, and you’re putting American servicemembers lives at risks. STOP funding the Chinese Communist Party’s military and human rights abuses.