Senate Passes Bill Removing Rogue Chinese Firms From US Stock Exchanges

Nice, about time we make foreign companies comply to the same standards as American companies. Just another "leveling the playing field" bill passed. Better late than never I guess. Sure the CCP will not be happy that their companies can no longer defraud US investors.

www.foxbusiness.com...

The legislation's focus on Chinese stocks stems from pre-virus concerns that Chinese firms listed on America’s exchanges are currently not subject to the same investor protection rules and accounting standards as U.S. companies, leaving small retail investors facing a higher risk of fraud.

The bill, which passed on Wednesday, says that if the Public Company Accounting Oversight Board -- a nonprofit established by Congress after the WorldCom and Enron scandals of the early 2000s -- is denied access to a foreign stock issuer's books for three years, the Securities and Exchange Commission will prohibit trading in the shares on U.S. exchanges.

The legislation tells all the companies in the world that "if you want to list on an American exchange, you have to submit an audit and the SEC has the right to look at that audit, and audit the audit,"

Because pissing off the Chinese when we're on our knees is always a smart thing to do.

originally posted by: BrianFlanders
Because pissing off the Chinese when we're on our knees is always a smart thing to do.

What the whaaa?

We're on our knees? To the Chinese?

Wow, you got some good stuff this time.

originally posted by: Vector99

originally posted by: BrianFlanders
Because pissing off the Chinese when we're on our knees is always a smart thing to do.

What the whaaa?

We're on our knees? To the Chinese?

Wow, you got some good stuff this time.

You can deny reality if you wish. It's practically a profession these days. I just think if the US is going to instigate financial conflict with a country like China it should not be done lightly and without planning. And certainly not during a global pandemic when we are hemorrhaging money by the second and nearly 100% reliant upon Chinese manufacturing.

You wanna move jobs back from China to the US? Great! So do I. But if it's gonna be done it should be done in a sane way.

originally posted by: BrianFlanders
Because pissing off the Chinese when we're on our knees is always a smart thing to do.

I guess you missed the part where if they don't have us as a market then they collapse as an economy...

But that's just basic global economics so I can understand why you wouldn't understand.

a reply to: BrianFlanders

China is losing their stranglehold as worlds manufacturer. Several other countries now compete with, or beat China in that aspect.

China is also very reliant on the US, and the rest of the world for that matter. They import nearly as much as they export, and their main exports (technology) face serious global competition. Oil still remains one of China's top 3 imports, and until they can figure out a way to become self-sufficient on that aspect, they will always be at a disadvantage. Why do you think they are trying to claim the entire south china sea for themselves?

China is on their knee. taking a golden shower from us. They are toast without trade

originally posted by: Lumenari

originally posted by: BrianFlanders
Because pissing off the Chinese when we're on our knees is always a smart thing to do.

I guess you missed the part where if they don't have us as a market then they collapse as an economy...

But that's just basic global economics so I can understand why you wouldn't understand.

China's economy would collapse? How? How would China's economy collapse? Would they take a hit? Yup. Collapse? A lie, but maybe you dont actually understand "basic global economics".

Reply to this post on a device that can connect to the internet that hasnt been manufactured in China.

a reply to: visitedbythem

2018:
US exports 12.22% of GDP and pretty steady for a number of years.
www.statista.com...


Chinese exports 18.24% of GDP and falling for a number of years.
www.statista.com...


I don't think it's at all clear that China would be toast. Their domestic market is pretty fricken huge.

originally posted by: AScrubWhoDied

originally posted by: Lumenari

originally posted by: BrianFlanders
Because pissing off the Chinese when we're on our knees is always a smart thing to do.

I guess you missed the part where if they don't have us as a market then they collapse as an economy...

But that's just basic global economics so I can understand why you wouldn't understand.

China's economy would collapse? How? How would China's economy collapse? Would they take a hit? Yup. Collapse? A lie, but maybe you dont actually understand "basic global economics".

Reply to this post on a device that can connect to the internet that hasnt been manufactured in China.

Yea... because their next customer base would be themselves, the UK, Russia, Pakistan, , South America, Africa, Antarktica.

I'm on an Apple device manufactured in a little place in China called Austin, Texas.

But it's pretty cool that you like China so much.

Do you live there, or do they just pay you to post?

Just curious.

a reply to: infolurker

It's about time. There have been people working to get more oversight on these Chinese companies for a while.

Maybe it took the virus to get it pushed through the Senate.

Now we get to see who in the House fights to keep their Chinese money tap flowing. China isn't going to be happy if their pet politicians let this pass.

a reply to: Phage

Isolationism worked out so well the first time it should be tried again and again...

originally posted by: Lumenari

originally posted by: AScrubWhoDied

originally posted by: Lumenari

originally posted by: BrianFlanders
Because pissing off the Chinese when we're on our knees is always a smart thing to do.

I guess you missed the part where if they don't have us as a market then they collapse as an economy...

But that's just basic global economics so I can understand why you wouldn't understand.

China's economy would collapse? How? How would China's economy collapse? Would they take a hit? Yup. Collapse? A lie, but maybe you dont actually understand "basic global economics".

Reply to this post on a device that can connect to the internet that hasnt been manufactured in China.

Yea... because their next customer base would be themselves, the UK, Russia, Pakistan, , South America, Africa, Antarktica.

I'm on an Apple device manufactured in a little place in China called Austin, Texas.

But it's pretty cool that you like China so much.

Do you live there, or do they just pay you to post?

Just curious.

Hmm, funny that you'd strike out Russia. China trades with Russia, and many other nations. Did you know that or is that's why you asked me if China pays me?

Oh, you got mac, so your Intel was made in China.
The hard drive was made in China.
The RAM was made in China.

Interesting that you have the one exact machine that they assemble in the US, especially since its 6k and really meant to serve things, almost like its a server. Yeah you have to be using that one because that's all that's done here. Weird.

a reply to: infolurker

when does the US plan on putting in measures so the world cant be defrauded by US stock investors/banks /hedge funds

I remember the last crash caused by big money in America that affected the global economy 2007/08

"Currency wars, trade wars, then they take you to war..." -Gerald Celente

And 2020 was going so well too....shame. 🙄

a reply to: EternalShadow

thing that gets me is that even after all this bull# from government , millions will be signing up as soon as they say " WE NEED YOU"

even after all the distrust in government from all their bull# millions still sign up to die

I dont understand

originally posted by: sapien82
a reply to: EternalShadow

thing that gets me is that even after all this bull# from government , millions will be signing up as soon as they say " WE NEED YOU"

even after all the distrust in government from all their bull# millions still sign up to die

I dont understand

The simple answer is war is racket, all those war movies aren't entertainment it's advertising, nothing more than keeping the industry running smoothly, think of it like oil in the cogs to keep the production line flowing.

originally posted by: Lumenari

originally posted by: BrianFlanders
Because pissing off the Chinese when we're on our knees is always a smart thing to do.

I guess you missed the part where if they don't have us as a market then they collapse as an economy...

But that's just basic global economics so I can understand why you wouldn't understand.

It turns out that when economies collapse, the people who live in that country tend to encounter death, disease, starvation, mass murder, all forms of abuse and other related forms of chaotic life ending calamities. Since I have a little thing called empathy and China has over a billion citizens I do not think collapsing their economy right now would be a good thing in any sane human mind.

a reply to: BrianFlanders

Turns out that when that same economy crashes and just so happens to be a super power then other economies then suffer because they wage all out war to repair the damage done to theirs

Iraq - 9/11 , Afghanistan is a perfect example of what happens when an economy crashes and they need to make more money to save it so they turn to war for profit ,and to steal resources overseas.


And we still bend over for more

# me , no lube either , how many times we been dry humped to death over a barrel and we keep asking for more.

a reply to: BrianFlanders

The playing field was leveled, this is not an attack at China rather keeping their parasitic investments and ruthless overtakes in critical infrastructure business in check.

Trade war is real and happening, Chinese companies acquire shares or take over critical business in production chains. If they want to hurt a countries production chain, they can interrupt it. With losses of course but think in decades, not months or years and they will come out on top of it. Not the companies but the Chinese government.

If you want to trade or to business in China, you will have to bleed your technology to them.