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Trump Signs Exec Order to Create Sovereign Wealth Fund to Help TikTok Purchase

6 points by smgit 2y ago

deleted 2y ago
[deleted]
robocat 2y ago
Weird perception of giving money to China while saying China bad. The ultimate owners of tiktok is ByteDance - and it is less clear who the owners of ByteDance are. Who owns tiktok: https://edition.cnn.com/2024/03/18/tech/tiktok-bytedance-china-ownership-intl-hnk/index.html https://edition.cnn.com/2024/03/18/tech/tiktok-bytedance-chi... As a New Zealander, the whole debacle appears just like just another normal contradictory US narrative. Edit: and the concept of a wealth fund implies either: (1) the US investing in foreign non-US shares - most sovereign wealth funds invest in US and offshore, or (2) a fund that self-invests within the country - often non-capitalistic (e.g. invest for government policy initiatives) or crony.
- quantified 2y ago
  These are of course non-exclusive, in the sense that crony can be non-US investments. Investing in Middle East efforts such as Neom comes to mind.
  - robocat 2y ago
    Yeah. Sovereign funds really stretch the word "investing". Here's a list by country: https://en.m.wikipedia.org/wiki/List_of_sovereign_wealth_funds_by_country https://en.m.wikipedia.org/wiki/List_of_sovereign_wealth_fun... The NZ entry only mentions New Zealand Superannuation Fund (70 billion) and ignores other government funds. NZ has a Hazard Fund (was 6 billion before earthquakes) and ACC investment fund (47 billion) and the Government Superannuation Fund (retirement funds/pensions for politicians and government employees) and the National Provident Fund and I think that some government departments also have their own investments. There's a lot of ESG involved https://fallback.nzsuperfund.nz/assets/Uploads/CTI-Quarterly-Engagement-Report-2024-Q2.pdf https://fallback.nzsuperfund.nz/assets/Uploads/CTI-Quarterly... and the government wants to use funds to "invest" in internal NZ infrastructure: https://newsroom.co.nz/2024/05/07/national-progressing-changes-to-nz-supers-ownership-rules/ https://newsroom.co.nz/2024/05/07/national-progressing-chang...
ceejayoz 2y ago
What, are we gonna finally tax oil companies more?

6 points by smgit 2y ago

deleted 2y ago

[deleted]

Weird perception of giving money to China while saying China bad. The ultimate owners of tiktok is ByteDance - and it is less clear who the owners of ByteDance are. Who owns tiktok: https://edition.cnn.com/2024/03/18/tech/tiktok-bytedance-china-ownership-intl-hnk/index.html https://edition.cnn.com/2024/03/18/tech/tiktok-bytedance-chi... As a New Zealander, the whole debacle appears just like just another normal contradictory US narrative. Edit: and the concept of a wealth fund implies either: (1) the US investing in foreign non-US shares - most sovereign wealth funds invest in US and offshore, or (2) a fund that self-invests within the country - often non-capitalistic (e.g. invest for government policy initiatives) or crony.

quantified 2y ago
These are of course non-exclusive, in the sense that crony can be non-US investments. Investing in Middle East efforts such as Neom comes to mind.
- robocat 2y ago
  Yeah. Sovereign funds really stretch the word "investing". Here's a list by country: https://en.m.wikipedia.org/wiki/List_of_sovereign_wealth_funds_by_country https://en.m.wikipedia.org/wiki/List_of_sovereign_wealth_fun... The NZ entry only mentions New Zealand Superannuation Fund (70 billion) and ignores other government funds. NZ has a Hazard Fund (was 6 billion before earthquakes) and ACC investment fund (47 billion) and the Government Superannuation Fund (retirement funds/pensions for politicians and government employees) and the National Provident Fund and I think that some government departments also have their own investments. There's a lot of ESG involved https://fallback.nzsuperfund.nz/assets/Uploads/CTI-Quarterly-Engagement-Report-2024-Q2.pdf https://fallback.nzsuperfund.nz/assets/Uploads/CTI-Quarterly... and the government wants to use funds to "invest" in internal NZ infrastructure: https://newsroom.co.nz/2024/05/07/national-progressing-changes-to-nz-supers-ownership-rules/ https://newsroom.co.nz/2024/05/07/national-progressing-chang...

ceejayoz 2y ago

What, are we gonna finally tax oil companies more?