A U.S. Republican lawmaker on Wednesday urged California to fire the chief inves...
WASHINGTON - A U.S. Republican lawmaker on Wednesday urged California to fire the chief investment officer of its public pension fund, the nation’s largest, citing what he called the CIO’s “long and cozy” relationship with Beijing, and assailed the fund’s investments in Chinese companies.
“Governor Newsom, if it were up to me, I would fire Mr. Meng immediately,” Banks wrote in the letter. In between the CalPERS stints, Meng worked for three years as deputy CIO with China’s State Administration of Foreign Exchange , which oversees China’s U.S. Treasury security holdings, the website says.
The Trump administration has been urging U.S. states to join the geopolitical battle with China. In a speech to governors on Saturday, U.S. Secretary of State Mike Pompeo urged states to be vigilant against local threats “with consequences for our foreign policy,” specifically pointing to CalPERS.
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