(KXNET) — North Dakota’s connection to China was also flagged at the hearing for House Bill 1278.
According to the Retirement & Investment Office, we currently invest at least 1% of our state’s Legacy Fund in China.
Beyond the fact that our money is reaching somewhere very far from North Dakota, many are worried for another reason.
The United States and China have been at odds over trade, policy, and international relations.
And having our state’s investment in a country that’s not a strong ally is a concern for many.
When Russia invaded Ukraine, North Dakota announced its removal of funds to Russia.
District 21, Representative Mary Schneider, asked what would happen if China does something similar.
“If you want to specify and articulate out a certain country that you’re not going to invest in and you have the law that you have on the books right now, then you would amend that law to specifically say that there should be no divestment in that particular country,” said Retirement & Investment Office Executive Director, Jan Murtha.
Murtha says there will then be an impact on our investments if we take our money out of China.
We have to be prepared for that possibility.