Wall Street wants to finance the enemy, and the Biden administration is opening the door wide.
How can this be?
On January 26, the Treasury Department’s Office of Foreign Assets Control issued General License No. 1A, which permits Americans to continue acquiring shares in certain companies associated with “Communist Chinese Military Companies,” known as CCMCs, until May 27. The previous deadline, set by the Trump administration, was January 28.
The General License delayed a portion of the application of President Trump’s landmark Executive Order 13959, issued November 12, 2020.
EO13959 stopped investors, subject to wind-down provisions, from purchasing or possessing shares in any company designated a CCMC. In short, Trump ordered Americans to stop financing China’s military, the People’s Liberation Army.
Read the rest here: https://www.gatestoneinstitute.org/17099/finance-china-military