According to US political media Politico, five states—Indiana, Florida, Missouri, Oklahoma, and Kansas—have started instructing state fund managers to divest from China over the past year. This move stems from concerns about potential conflict in the Indo-Pacific region and the risk of U.S. assets being frozen. The U.S. Federal Thrift Savings Plan, the main federal pension fund, announced in November 2023 that it would stop investing in stocks listed in Hong Kong and China due to ongoing U.S.-China tensions and increasing uncertainties. Global Times reported that U.S. states have begun halting public pension fund investments in Chinese enterprises, citing national security risks. According to the nonprofit Future Union, funded and led by venture capitalist Andrew King, state pension funds currently have one to five percent of their investments in China. Between 2021 and 2023, U.S. pension funds invested 68 billion US dollars in China. King believes this divestment is not just a quick trend, but other states are likely to follow suit, particularly Missouri, where the state treasurer views this measure as a defensive action.
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