China’s yuan fell sharply on news that President Donald Trump plans to limit investment in equities controlled by the Chinese Communist Party (CCP).
President Trump is considering blocking a $50 billion investment by a government retirement fund that would have been available to the CCP if it had been placed on the so-called MSCI All Country World Index, according to Bloomberg.
The reason for suspension is that it could involve a risk to the national security of the United States.
The tension between the Trump administration and the CCP has increased because the CCP is handling the outbreak of the CCP Virus in an nontransparent and apparently biased manner. The virus has already killed more than 234,000 people worldwide, 63,746 of them in the United States.
Trump is seeking compensation for the devastation caused by the CCP Virus but has not yet specified the extent of this compensation.
“We haven’t determined the final amount yet. It’s very substantial,” Trump said, commenting on the news that the CCP will be accessed $160 billion in payment for the damage caused to the European economy.
Adding to the harmful impact caused by the CCP Virus in the United States is Trump’s serious consideration that the Chinese regime would try to prevent his re-election in November.
“China will do anything they can to have me lose this race,” President Trump said in an interview at the White House released on April 29.
China’s Foreign Ministry spokesman Geng Shuang’s response was quick to come, and he appeared later that day.
“The U.S. presidential election is an internal affair, we have no interest in interfering in it,” the Chinese regime official said, adding, “We hope the people of the U.S. will not drag China into its electoral politics.”
The performance of the Chinese regime in the face of the outbreak of the CCP virus has been highly questioned internationally, and its image has greatly deteriorated.
Several countries and institutions are filing lawsuits against the Chinese regime seeking financial compensation for the losses suffered.
Sen. Marco Rubio (R-Fla.) said he was pleased with Trump’s plans to block this major investment, which will no longer be available to the Chinese regime and which has precipitated the fall of the yuan.
“I applaud President Trump for directing his administration to take swift action preventing this from going forward,” was part of Rubio’s comments on the matter.