MOORESVILLE, N,C., May 15, 2020--DivestPersecution, a group of investment advisors, has praised President Trump on his decision to halt investment in Chinese stocks.
In a letter written Monday, May 11, 2020, national security adviser Robert O’Brien and National Economic Council Chair Larry Kudlow wrote to U.S. Labor Secretary Eugene Scalia stating that the White House does not want the Thrift Savings Plan, which is a federal employee retirement fund, to have money invested in Chinese equities. This represents a total of about $4 billion in assets.
Reasons cited by President Trump and Administration officials included safeguarding retirement funds from significant and unnecessary economic and national security concerns. And Federal retirees’ money will be protected from investment risk due to inadequate financial disclosures by publicly-traded Chinese companies.
DivestPersecution is especially encouraged by President Trump’s commitment to “...humanitarian concerns because they [Chinese companies] operate in violation of U.S. sanction laws and assist the Chinese government’s efforts to build its military and oppress religious minorities.”
DivestPersecution in 2011 initiated a divestment campaign against publicly traded companies that are state-owned by the government of the People's Republic of China. This action was and continues to be a sanction against the Chinese government for their persecution of Christians and for the violation of human and religious rights.
DivestPersecution encourages Americans to contact their political representatives and through social media express support for President Trump’s courageous initiative to protect our national security and condemn China’s communist government suppression of human and religious rights.
An organizer of DivestPersecution, Tom Fyler, President of Commodities & Securities, Inc., emphasizes that -- "The primary purpose of the divestment campaign is to raise awareness about the persecution of Christians and the violation of human and religious rights that occur daily worldwide. Most importantly, we encourage advocacy and support to those persevering people impacted by these most horrible abuses.”