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Front Line Dispatch from China’s Economic War Against the U.S.

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American Greatness

Here’s the latest dispatch from the front: Ant Technology Group (Ant Group), formerly known as Ant Financial Services Group, is a subsidiary of Chinese e-commerce giant Alibaba Group Holding, the e-commerce giant that made Jack Ma one of the world’s richest men. 

Ant provides financial technology (fintech) products and services. It’s expected soon to issue an initial public offering in Hong Kong and Shanghai to raise $30 billion—the largest IPO in history.

It’s important to reiterate the risks involved with investing in any CCP-controlled or affiliated company—which means any Chinese company. Even “private” Chinese companies are beholden to the Chinese government according to its National Intelligence Law and security laws and regulations.

When President Trump barred the pension funds of civilian and military employees of the federal government from investing in index funds that include Chinese companies, National Economic Council Director Larry Kudlow and National Security Advisor Robert O’Brien explained: 

The financial impact of this risk is significant: scandals involving Chinese companies in recent years have cost investors billions of dollars. In addition, the Chinese Government currently prevents companies with Chinese operations listed on U.S. exchanges from complying with applicable U.S. securities law, leaving investors without the benefit of important protections.

The Obama-Biden Administration struck the deal that exempts Chinese companies from U.S. securities laws. :snip:

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