US pension funds including those for New York’s police and firefighters, invest in ByteDance, TikTok’s Chinese parent company, despite congressional pressure to sell TikTok raising concerns over national security implications and highlighting prioritization of short-term gains over long-term safety.
US Pension Funds’ ByteDance Investments Spark National Security Concerns
According to the New York Post, recent news revealed that many US pension funds like those for New York’s police and firefighters have money in ByteDance, TikTok’s parent company from China. Even though Congress wants ByteDance to sell TikTok due to privacy worries these US pension funds indirectly support ByteDance through investments in certain companies. We’re not sure exactly how much money is involved because detailed financial information isn’t public.
This situation makes people worry about national security. Some experts say ByteDance’s connection to the Chinese government could put American user data at risk and influence what people think in the US. It shows a bigger problem: some US companies care more about making quick money than thinking about the long-term safety of the country. As technology and global relationships change it’s important to think about the effects of these investments on both money and safety.
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$100 Billion Question: How US Pension Funds’ Investments in TikTok’s Parent Company Expose National Security Risks (PHOTO: YouTube)
US Pension Funds Linked to ByteDance Investments Raise National Security Concerns
Furthermore, this shows that American banks and investment groups are more focused on making money quickly than thinking about what’s best for the country in the long run. It’s concerning because they’re not considering the possible dangers of investing in companies linked to countries that might not have our best interests at heart. As our world gets more connected and reliant on technology investors need to think about not just making money but also whether their investments could cause problems for our country’s safety.
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