Bill O’Grady | PDF
In late April, China released a new version of its national security law. Shortly thereafter, some prominent U.S. firms were raided by national security operatives, and there were reports of database access being restricted. In this report, we will discuss the new law and who has run afoul of the rules so far. The context of this new law is important since China isn’t alone in increasing its focus on national security—the U.S. has been taking steps in this direction as well. As always, we conclude with market ramifications, where we will examine how the shifting focus on national security could affect foreign investment and trade.
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These reports were prepared by Confluence Investment Management LLC and reflect the current opinion of the authors. Opinions expressed are current as of the date shown and are based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change. This is not a solicitation or an offer to buy or sell any security. Past performance is no guarantee of future results. Information provided in this report is for educational and illustrative purposes only and should not be construed as individualized investment advice or a recommendation. Investments or strategies discussed may not be suitable for all investors. Investors must make their own decisions based on their specific investment objectives and financial circumstances.