Beijing is scrambling to keep the U.S. from kicking Chinese firms worth $1.4 trillion off Wall Street. But Congress is in no mood for compromise

[F-22Raptor]

For 20 years, Chinese companies listed on U.S. stock exchanges—which now number 261—have existed in a state of limbo. They are subject to U.S. rules requiring they show their books to U.S. regulators, but Beijing has denied inspectors access, casting the two sides into a decades-long impasse. Washington had largely let Chinese firms’ noncompliance slide so American investors could tap into the riches of some of China’s most successful enterprises. But now U.S. lawmakers are demanding an end to the standoff with a law that would boot $1.4 trillion worth of Chinese stocks from American exchanges if Beijing continues to keep regulators at bay.

That prospect wiped hundreds of billions of dollars from the value of U.S.-listed Chinesefirms and spooked Beijing. Earlier this month, China’s securities commission announced that foreign regulators may “request to investigate…or inspect” overseas-listed Chinese firms and their auditors. The obscure accounting matter had turned into a test of wills, and Beijing had blinked.

China's plan to save US-listed firms from delisting won't convince Congress | Fortune

An obscure accounting matter has turned into a test of wills, and Beijing had blinked.

fortune.com

 

[HttpError]

The power of the USA

 

[Trango Towers]

Economic war..

Hope the Chinese call in American debt

 

[SuvarnaTeja]

For 20 years, Chinese companies listed on U.S. stock exchanges—which now number 261—have existed in a state of limbo. They are subject to U.S. rules requiring they show their books to U.S. regulators, but Beijing has denied inspectors access, casting the two sides into a decades-long impasse. Washington had largely let Chinese firms’ noncompliance slide so American investors could tap into the riches of some of China’s most successful enterprises. But now U.S. lawmakers are demanding an end to the standoff with a law that would boot $1.4 trillion worth of Chinese stocks from American exchanges if Beijing continues to keep regulators at bay.

That prospect wiped hundreds of billions of dollars from the value of U.S.-listed Chinesefirms and spooked Beijing. Earlier this month, China’s securities commission announced that foreign regulators may “request to investigate…or inspect” overseas-listed Chinese firms and their auditors. The obscure accounting matter had turned into a test of wills, and Beijing had blinked.

China's plan to save US-listed firms from delisting won't convince Congress | Fortune

An obscure accounting matter has turned into a test of wills, and Beijing had blinked.

fortune.com

US and China are part of G2.

US politicians are heavily invested in China.

 

[Wood]

Economic war..

Hope the Chinese call in American debt

.. dumping American debt will devalue it resulting in a bigger loss for the bag holders. It can be done over a long period but what to replace USD with? It is still the reserve currency.

 

[HttpError]

.. dumping American debt will devalue it resulting in a bigger loss for the bag holders. It can be done over a long period but what to replace USD with? It is still the reserve currency.

Buy bitcoin and Ethereum and inflate my bags. I am HODLING.....

 

[mhosein]

The only ones who will be hurt by such actions, is America and the West itself. They dont have Oil, or Natural Gas, or enough wheat to feed their own citizens, let alone the world. If they do what they say will do at Wall Street to China. Then there will be serious Boomerang consequences the West will face, which it will have no way of evading.

 

[SuvarnaTeja]

The only ones who will be hurt by such actions, is America and the West itself. They dont have Oil, or Natural Gas, or enough wheat to feed their own citizens, let alone the world. If they do what they say will do at Wall Street to China. Then there will be serious Boomerang consequences the West will face, which it will have no way of evading.

US is self sufficient in Oil, Gas and Food. In fact US is capable of exporting to their brothers and sisters in Europe too.

The war in Ukraine is all about Europe relying on the US for Oil, Gas and Food instead of Russia.

Europe relying solely on the US is good for US economic security.

 

[mhosein]

US is self sufficient in Oil, Gas and Food. In fact US is capable of exporting to their brothers and sisters in Europe too.

The war in Ukraine is all about Europe relying on the US for Oil, Gas and Food instead of Russia.

Europe relying solely on the US is good for US economic security.

Tell that to the Americans who are paying through their intestines at $6 a gallon of gasoline. If America has so much oil and gas, then why isn't it able to stop the petrol and gas price hikes?

Europe relying on America is good for the corporate mafia of Wall Street, not common Americans. Wake up and smell the coffee, my friend.

 

[SuvarnaTeja]

Tell that to the Americans who are paying through their intestines at $6 a gallon of gasoline. If America has so much oil and gas, then why isn't it able to stop the petrol and gas price hikes?

Europe relying on America is good for the corporate mafia of Wall Street, not common Americans. Wake up and smell the coffee, my friend.

US Oligarchs do not care for US middleclass.

 

[mhosein]

US Oligarhs do not care for US middleclass.

Thank you, I stand vindicated.

Its these oligarcs that will lead American economy toward collapse.

 

[pikkuboss]

The only ones who will be hurt by such actions, is America and the West itself. They dont have Oil, or Natural Gas, or enough wheat to feed their own citizens, let alone the world. If they do what they say will do at Wall Street to China. Then there will be serious Boomerang consequences the West will face, which it will have no way of evading.

You have no idea. US is the only country in the world which is self-sufficient in everything. US doesn't need to rely on any country for anything.

 

[etylo]

Yeah, the US should start another full scale trade war with China or ban any Chinese goods entering US instead of lowering your tariffs now to be more deadly, what are you Yankees waiting for ?

 

[mhosein]

You have no idea. US is the only country in the world which is self-sufficient in everything. US doesn't need to rely on any country for anything.

If America doesn't need to rely on anyone, then why is the price of gasoline in America at $6 a gallon??????

I think it is clear, YOU have no idea what you're talking about!!

 

[pikkuboss]

If America doesn't need to rely on anyone, then why is the price of gasoline in America at $6 a gallon??????

I think it is clear, YOU have no idea what you're talking about!!

It's because America is a global free market economy. US doesn't isolate itself from global market like other countries do with price controls.