More than 150 million Americans invest in the stock market. Most assume these highly regulated investments are safe. Unfortunately, Dennis Kwok and Sam Goodman’s op-ed “Communist Cells in Western Firms?” (July 12) reveals a startling risk: The Chinese Communist Party (CCP) is operating inside many of America’s most well-known and respected financial firms.
CCP members brag about it openly in Chinese state media. Several years ago, McKinsey & Co. employees touted their leadership of CCP branches in the company’s Chinese offices….
The risk of Communist infiltration is widespread because the number of publicly traded companies operating in China…is staggering. Financial companies such as BlackRock, Citigroup and Goldman Sachs are among the most vulnerable.
Such infiltration poses a real threat. According to the bipartisan, bicameral U.S.-China Economic and Security Review Commission, Beijing uses its corporate cells to “co-opt and neutralize sources of potential opposition to the policies and authority” of the CCP….
My No Chinese Communist Surprise Parties Act (S.3598) would require companies to disclose the presence of CCP cells and whether they influence corporate decisions. If companies have to disclose their risk from carbon emissions, they certainly should do the same for communism.