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.