By Free Republic | Created at 2024-10-30 10:18:08 | Updated at 2024-10-30 17:21:11
7 hours ago
Tim Walz’s Minnesota state investment board stepped up contributions to Chinese funds during his tenure
NY Post ^ | 10/29/24 | Caitlin Doornbos
Posted on 10/30/2024 2:43:26 AM PDT by Libloather
As red states like Florida, Indiana and Missouri pass laws banning their state investment boards from involvement with Chinese funds, Minnesota Gov. Tim Walz has allowed his state’s backing of Beijing to grow.
As governor of the Land of 10,000 Lakes, Walz — the Democratic vice presidential candidate — has significant authority over the selection of members of the Minnesota State Board of Investment (SBI), who are typically either elected or appointed by a comptroller or treasurer in other states.
Since Walz became governor in 2019, SBI appointees have directed roughly 70% of the approximately $1.3 billion moved into Chinese funds — about $910 million, according to a data analysis by the nonpartisan watchdog group Future Union.
“The governor selects and appoints the members of the board of directors that oversee the pension. It is not an elected board,” Future Union executive director Andrew King told The Post. “Simply stated, Gov. Waltz is the most significant elected person in government with personal responsibility and accountability to control investments.”
While the board has claimed it has not made any new investment into Chinese funds since the year Walz took office, King said that is misleading because it continued existing investments — even in TikTok parent company ByteDance — throughout the governor’s tenure.
Investments in Chinese funds represent a national security risk for a number of reasons, King said. While US dollars fueling the Beijing economy is concerning on its own terms, it’s often the “relationship elements and knowledge that are far more impactful — and dangerous — if transferred to an adversary.”
(Excerpt) Read more at nypost.com ...
TOPICS: Business/Economy; Conspiracy; History; Local News
KEYWORDS: china; funds; minnesota; walz
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And the chicoms gave it right back to Pedo Pete. That's weird.
1 posted on 10/30/2024 2:43:26 AM PDT by Libloather
To: Libloather
Has Tim Walz registered as an agent of a foreign nation?
Isn’t it a Federal crime not to register?
2 posted on 10/30/2024 3:12:11 AM PDT by CIB-173RDABN (My opinions are the rusult of 80 years of life, you may not like them but who cares.)
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