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Trade war

US lawmakers urge government pension fund to shun China stocks

Bipartisan senators oppose investment in 'Made in China 2025'-related companies

Republican Sen. Marco Rubio is urging the Federal Retirement Thrift Investment Board not to invest in Chinese companies, including China Mobile.   © Reuters

NEW YORK -- A retirement plan for federal employees should reconsider a measure to be implemented next year on investing in Chinese companies, U.S. senators including China hawk Marco Rubio argued Monday.

The decision to switch to an MSCI index with Chinese companies "will expose nearly $50 billion in retirement assets of federal government employees, including members of the U.S. Armed Forces, to severe and undisclosed material risks" from corporate ties to the Chinese government, wrote Rubio and Democratic Sen. Jeanne Shaheen in a letter to Chairman Michael Kennedy of the Federal Retirement Thrift Investment Board.

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