“McCormick Oversaw Investments Worth Billions of Dollars in Chinese Corporations”
Recent Rhetoric is “An Attempt by McCormick to Cleanse His Record of His Own Economic Ties to the Chinese Communist Party-Controlled Nation”
PENNSYLVANIA — New reporting from Heartland Signal spotlights Connecticut hedge fund executive David McCormick’s latest attempts to paper over his record on China. As McCormick attempts to pull the wool over Pennsylvanians’ eyes, reporting highlights his history of deep business ties to China.
Read the full story here and see below for highlights:
- This hard stance against investments in China is likely an attempt by McCormick to cleanse his record of his own economic ties to the Chinese Communist Party-controlled nation with another Senate run on the horizon.
- As the CEO of a hedge fund called Bridgewater Associates, McCormick oversaw investments worth billions of dollars in Chinese corporations like Alibaba and Baidu. Both of these companies assisted the Chinese government with researching and developing invasive surveillance technology, which was praised by Bridgewater representatives.
- McCormick also served as the CEO of a software firm called FreeMarkets, where he heavily invested in another Chinese corporation, Huawei. Huawei was found to have deep ties with the Chinese military, and the U.S. government ceased all exports to the company last February over security concerns.
- As recently as 2020, McCormick spoke against economic decoupling with China, saying it would harm both China and the U.S.