Marion Smith writes about the hypocrisy of businesses that claim to care about ESG and yet treat the U.S. no different from China:

In its current form, ESG admits no fundamental difference between the United States and China, concerning itself instead with the operations of specific companies. Yet this misses the profound effects that such diametrically opposed governmental and economic systems have on corporate workings. At a superficial level, a U.S. company and a Chinese company may appear similar. More fundamentally, though, they ultimately serve different masters. Issues that are of primary concern to U.S. shareholders are secondary in China, where the communist regime’s political demands will always come first.

Read the whole thing here.