Florida Moves to Disentangle State Investments in China

'The whole experiment with China has been a big failure for the United States,' governor says

Florida Gov. Ron DeSantis speaks during a press conference at the Shul of Bal Harbour in Surfside, Fla., on June 14, 2021. Joe Raedle/Getty Images

Florida officials on Dec. 20 took action to disentangle state retirement funds from the Chinese Communist Party (CCP), including revoking authority that let outside managers decide where to invest some of the state’s pension funds.

The plan from Gov. Ron DeSantis, a Republican, was approved during a meeting of the State Board of Administration of Florida, which invests and manages the state’s pension plan, one of the largest public retirement plans in the U.S., and smaller funds.