Fund managers are worried the Biden administration's move to restrict some outbound U.S. investment to China will further fuel anti-Beijing sentiment in Washington and prompt more limitations.
For U.S. investors trying to navigate the geopolitics, the noise in Washington is making it hard to determine what they should be doing in China. The executive order along with anti-China moves by lawmakers and agencies means the overall policy is unclear and riddled with landmines. China is making it harder for businesses, too.
This person, who requested anonymity because of the sensitivity of the situation, described the environment from business perspective as "a combination of confusion and fear," with policy debates expressed by "punching companies in the nose."Take the case last week of letters excoriating Blackrock and MSCI from the Select Committee on the Chinese Communist Party.
That's narrow enough for many fund managers to keep operating in China without any impact, top executives from two major firms with China business said. But if restrictions were to broaden it would be a different story. The former diplomat and the fund executive said they felt Blackrock had been singled out because launching an investigation into the world's largest asset manager would garner more publicity for the committee's work.
A similar measure, which includes more investment areas but doesn't call for prohibition, is moving through Congress. The former diplomat and one fund executive who monitors legislation said that might now stall.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Defi Market Rebounds: Value Locked Rises to Nearly $42 Billion, Token Market Swells – Defi Bitcoin NewsThe decentralized finance (defi) crypto token sector has swelled to $45.08 billion, reflecting a 6.17% rise in just a day.
Read more »
China’s Country Garden, Zhongrong Trust renew debt market fearsChina’s biggest private property developer Country Garden suspends trading of its 11 onshore bonds from Monday, according to filings to the Shenzhen S
Read more »
Hunter Biden special counsel appointment called ‘debacle’ for Biden Justice DepartmentFormer federal prosecutor Shan Wu ripped U.S. Attorney General Merrick Garland's appointment of David Weiss as special counsel in the Department of Justice's Hunter Biden probe.
Read more »
Hunter Biden's legal woes could threaten Joe Biden's reelectionHunter Biden was charged with failing to pay more than $200,000 in taxes on more than $1.5 million in income back in 2017 and 2018 and illegally owning a gun at a time he was allegedly addicted to drugs.
Read more »
Hunter Biden lawyer denies Joe Biden ties to son's foreign deals: 'Doesn't exist'Abbe Lowell, an attorney for Hunter Biden who is handling his congressional inquiries, said Sunday that there is no connection between President Joe Biden and his son's foreign business deals.
Read more »
Hunter Biden probe 'raised questions' on Biden's electability, 'could damage him pretty seriously': NBC hostSunday’s episode of “Meet the Press' suggested that the ongoing Hunter Biden scandal could have a negative impact on President Biden’s re-election campaign.
Read more »