American Journal News: “David McCormick […] Urged Democratic Sen. Bob Casey To Do More To Curtail China’s Influence […] But Mccormick’s Suggestions Are Things Casey Has Already Done.
PENNSYLVANIA — A new report from American Journal News caught David McCormick lying about Sen. Casey’s long record of standing up to China. In a Twitter thread where McCormick tried to cover up his own hypocrisy on China, he urged Sen. Casey to support legislation that Sen. Casey has already introduced in the Senate.
The new report comes on the heels of a CNN report showing McCormick increased investments in China by 108,000% as CEO of Bridgewater, including in companies blacklisted by the U.S. government.
ICYMI: American Journal News: David McCormick bungles critique of Sen. Casey’s China policy
- David McCormick, a Republican Senate hopeful in Pennsylvania, urged Democratic Sen. Bob Casey to do more to curtail China’s influence in the private sector, but McCormick’s suggestions are things Casey has already done.
- In a thread posted to the online platform X, McCormick endorsed a bill co-sponsored by Casey that will require public equity firms to disclose their investments in China to the U.S. Securities and Exchange Commission. But McCormick said the legislation did not go far enough.
- McCormick seems unaware that Casey co-sponsored a bill this year mandating that investors disclose stakes in Chinese companies in sectors related to national security, including AI and satellite-based communications.
- “Knowing what corporations are investing overseas is not good enough if we don’t have a means to stop them,” Casey said in June. “That’s why I’d ultimately like to see the United States with the authority to prohibit corporations from selling our national security secrets and manufacturing power to our adversaries when it puts our nation at risk.”
- McCormick has called on the U.S. to stop investing in China. But prior to running for public office, he was the CEO of Bridgewater Associates, a Connecticut-based private equity firm with Chinese investments. According to CNN, Bridgewater’s Chinese holdings grew from $1.6 million to $1.77 billion under his leadership; a 108,000% increase.
- Under Casey’s bills, Bridgewater would be required to disclose these holdings.
- A spokesperson for McCormick’s campaign did not immediately respond to a request to comment for this article.