, Columnist
Pension Investing Is a Poor Political Weapon
State and local funds show that participants suffer when returns aren’t the only priority.
China wouldn’t miss the U.S. pension money.
Photographer: Nicolas Asfouri/AFP/Getty Images
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The idea that “money talks” might simply be all talk itself.
By now, markets are well aware that the Trump administration is considering ways to exert pressure on China by limiting American investments in Chinese companies. A Bloomberg News scoop late last month revealed that officials were reviewing a range of such restrictions. In the latest development, their focus is particularly on investments made by U.S. government retirement funds, in part because it’s time-sensitive: