As CEO of Bridgewater, David McCormick Oversaw the Investment of Tens of Millions in Chinese Military Companies
PENNSYLVANIA — Following David McCormick becoming the GOP Senate nominee, the Pennsylvania Democratic Party is continuing to highlight why Pennsylvanians can’t trust the Connecticut mega-millionaire and hedge fund CEO to be for them.
McCormick’s record of selling out to China is a reminder that Pennsylvanians can’t trust him to prioritize American workers over China and U.S. adversaries.
Read More About David McCormick’s Disastrous Record on China:
David McCormick oversaw the investment of tens of millions in Chinese military companies making malware, missiles, bombers and more.
McCormick increased investments in China by at least 108,000% as CEO of Bridgewater, including companies blacklisted by the U.S. government.
- He increased investments in China from $1.6 million to over $1.77 billion in less than five years.
David McCormick profited from China trade policies he helped shape and refused to support Trump’s tariffs on China.
- David McCormick “helped open up China to U.S. investment” as an official in the Bush administration, then, as a hedge fund manager he profited from the lower investment barriers he lobbied for.
- His work “actually made offshoring jobs easier.”
- McCormick also bemoaned growing calls in the U.S. for restrictions on trade with China.
- McCormick “showed no concern” about the estimated loss of 2.4 million US jobs due to the normalization of trade with China.
- By expanding the presence of U.S. banks and other investment firms in China, McCormick’s work expedited the offshoring of domestic U.S. manufacturing jobs.
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