Washington: US President Donald Trump has confirmed that his administration has asked for the withdrawal of billions of dollars in American pension fund investments in China and that other similar actions were in consideration.
The US and China relations have deteriorated after the coronavirus outbreak. The US has expressed disappointment over Beijing’s handling of the coronavirus. China has also been accused of stealing Intellectual Property and research work.
“Billions of dollars, billions... Yeah, I pulled it back,” Trump said on Fox Business News on Thursday when asked about reports that the US had pulled out billions of dollars of American pension funds in Chinese investment. In another question, the president was asked whether he will force Chinese companies to follow all conditions for being listed at the New York Stock Exchange and the NASDAQ.
Chinese companies like Alibaba are listed on the New York Stock Exchange, but they do not report earnings - - the way an American company does, the interviewer said.
“We are looking at that very strongly. It’s pretty amazing but here’s the problem with that. Let’s say we do that, right? So what are they going to do? They are going to move their listing to London or someplace else. You see?” Trump said.