U.S. Sen. Rick Scott continues his full-court press assault against Chinese influence.
The latest example came Tuesday, when Scott reached out to U.S. stock exchanges, major pension plans and underwriters with a stark warning about the “acknowledged and growing threat” posed by the Chinese Communist regime.
“I write to ask you how you and your organization can continue to feel comfortable selling, purchasing, or underwriting these securities when the risk to U.S. investors is so clear and present,” Scott wrote.
The Senator wants investment leaders to “discontinue selling, purchasing, or underwriting U.S. listed Chinese-based companies’ stock for the protection of your investors and American capital markets.”
“We can no longer allow Communist China to get away with flouting our laws, defrauding our citizens and harming American investments,” Scott added.
Scott’s appeal includes rigid denunciations of a regime that “can’t be trusted,” but juxtaposes red-meat arguments with assertions arguably more salient to the investor class.
“U.S.-listed Chinese companies present regulatory, oversight and enforcement challenges that undermine transparency and confidence in American markets. U.S. investors have few legal and even fewer practical remedies when Chinese firms that raise capital on U.S. stock markets do not comply with U.S. disclosure rules, or flaunt our regulatory requirements,” the Senator said.
Scott’s call for the investor class to shun Chinese assets comes in the same week the Senator called on Americans to boycott products from the nation.
“We need to understand what communist China is. It is run by the Communist Party. They act in the best interest of the Communist Party. They steal our jobs. They steal our technology,” Scott said Monday.
The Senator was in the private sector long before he entered politics, and he pointed to his experience there to delineate the ruthlessness of the Chinese Communist regime.
“I’m a business guy, loved to compete,” Scott said. “These guys are out to lie, cheat and steal to win.”