US capital is being cut off to 31 Chinese companies with PLA links. The move is designed to deter U.S. investment firms, pension funds and others from buying shares of 31 Chinese companies that were designated by the Defense Department as backed by the Chinese military earlier this year. White House trade adviser Peter Navarro estimated that at least half a trillion dollars in market capitalization was represented by the Chinese companies and their subsidiaries. In that way, the PRC exploits United States investors to finance the development and modernization of its military. To protect the United States homeland and the American people, I hereby declare a national emergency with respect to this threat.''

Source: The Standard November 13, 2020 03:00 UTC