Sen. Bob Casey (D-Pa.) supervised a potentially risky investment of more than $31 million from state worker pensions into a Chinese government-backed firm — that has since been deemed a threat to t…
China Mobile has since been designated a national security threat, with the Department of Defense in June 2020 noting the company was part of the Chinese Communist Party’s “military-civil fusion national strategy.”
President Biden in 2021 called China Mobile one of many threats “posed by the military-industrial complex of the People’s Republic of China.”The China Mobile assets were one of many lucrative holdings Casey oversaw when he served as state treasurerThe holdings in China Mobile were agreed to by Casey as the fund’s custodian as well as 10 other board members of the Pennsylvania State Employees’ Retirement System, including former Pennsylvania House members Nicholas J. Maiale, Michael F.
“No one is tougher on China than Senator Casey. During his time in the Senate, he has fought to crack down on China’s currency manipulation, and against unfair trade practices and US corporations that invest in China at the expense of American workers,” she added.
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