Thank you very much, Mr. Chair, for the question.
What we're seeing in Germany's approach is putting human rights and ethics at the core of their policy, so there's a policy dimension as well as a legislative dimension.
For Canada, I indicated that I think we need something like the entity list in the U.S. That would be a guideline for university trust funds as well as for pension funds as to what they are not permitted to invest in, which is the obvious genocide companies. It's not a very long list. There are many other companies in China that they could invest in.
Having said that, there's a broader question here about the extent to which public pension plans are investing in China. In the situation with Russia, Canada, along with other countries, chose to sanction Russia, and we found that investments in Russia were frozen. I would be very concerned to see a situation of a blockade against Taiwan.
One of the things on the table among western countries was whether to have a sanction list for China and find organizations like CPPIB and university trust funds coming to the government saying, “Please, please don't touch all of our important investments in China. We don't want to put them at risk.”
I think that's one thing behind proposals such as the one Charles Burton expressed, which is, “Take another look at all of your investments in China to see whether this is a stable country going forward.”
We've seen with the COVID numbers that we could find even more severe problems going forward with the supply chains. I think this situation merits broader thinking than just the narrow selection of one investment or another.