First sanction, then block US investment in, the Chinese Communist Party’s Ant Group

For weeks, we have faced a looming disaster – a huge fundraiser for the Chinese Communist Party being promoted by four leading U.S. investment banks: Goldman Sachs, J.P. Morgan Chase, Morgan Stanley and Citigroup.

Thanks to the access to American investors such Wall Street powerhouses can provide, an initial public offering in China by a CCP-tied conglomerate called Ant Technology Group expects to raise – mostly from us – between $60-80 billion. That money will translate into more Ant-enabled human rights abuses there and more Chinese economic and military threats to the rest of us.

Fortunately, the U.S. government is now moving to sanction Ant Group by placing it on the Commerce Department’s Entity List. Once that’s done, investors should be barred from investing in this company and others so designated. The same should be done with Pentagon-listed Chinese military companies operating here.

This is Frank Gaffney.