Wall Street Funding Blacklisted Chinese Companies: House Committee Probe by Indrajit Basu – US Politics News

American investors are unintentionally funding Chinese companies embargoed for their association with China’s military or alleged human rights abuses, a congressional committee probe has found.
Chairman Mike Gallagher (R-Wis.) and Ranking Member Raja Krishnamoorthi (D-Ill.) of the House Select Committee on the Strategic Competition between the United States and the Chinese Communist Party (CCP) made the disclosure on Thursday.
It emerged after the committee last year notified BlackRock, the world’s largest asset manager, and MSCI, the world’s foremost index provider, of a congressional probe involving scrutiny of the wider U.S. financial sector.
“The results of this examination are shocking,” the lawmakers said in their report….