China Markets

‘Some Wackos’ Are Pushing US-China Relations To The Brink

"I would not turn my back on the Chinese Communist Party if they were two days dead", he said.

At the risk of trafficking in hyperbole (which I usually only do tongue-in-cheek), relations between the US and China are close to careening completely off the tracks. It's never a good sign when a US senator utters the phrase "I don't want to get into a new Cold War", which is what Senator John Kennedy said Wednesday while discussing legislation that could lead to the delisting of Chinese stocks from US exchanges. The bill is co-sponsored by Chris Van Hollen and was passed by unanimous consent. Long story short, the legislation calls for companies to certify they aren't controlled by a foreign government. If the Public Company Accounting Oversight Board can't audit three straight years of financials to make that determination, companies would be banned from US exchanges. "The Chinese Communist Party cheats, and the Holding Foreign Companies Accountable Act would stop them from cheating on US stock exchanges", Kennedy very "calmly" explained, during an interview with Fox's Maria Bartiromo on Tuesday. Both Kennedy and Van Hollen released forthright statements Wednesday as part of a press release that carried the not-at-all-accusatory title: "Senate passes bill to kick deceitfu
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8 comments on “‘Some Wackos’ Are Pushing US-China Relations To The Brink

  1. John3D says:

    What is it that China held back about covid? Was it not telling anyone how dangerous it was soon enough. Isn’t our government in the same boat, both concerning its citizens and concerning other countries who have been told to follow us as ‘the leader of the free world’. Maybe Brazil has a case they could pursue, except I suspect they have zero leverage.

    • A Pi says:

      John, really? Number of deaths, how widespread it was, it obstructed journalists and supressed doctors. Had those figures been real maybe other governments would have acted very differently and saved lives… and that is the main point.

      • calh0025 says:

        Maybe though for the US in particular that would suggest the President would have taken it more seriously from China than from his own intelligence briefings which made the danger clear very early on. Even an amateur like me saw clear indications this was serious and different enough to get out of the market by the end of December. Whatever obfuscation occurred could not possibly have been sufficient to justify the lack of response by world governments if I could see it with no access to anything beyond internet news.

      • Anyone who was paying attention had the opportunity to act differently and some did. The US, in addition, had the benefit of multiple urgent intelligence reports. Meanwhile Trump was completely fixated on his impeachment proceedings, and had no interest in the possibility of a global pandemic and no conception of what to do if one happened.

      • Mr. Lucky says:

        Seriously? For the US this is all about politics and trying to deny, deny to look good for the election. We lost a lot of time denying the science and pretending it would all be over soon. It was Trump not China that made us number 1, most deaths in the world, a record he’s earned. China is about to pass the US in nearly every meaningful economic area. They have four times the population we do and if they manage to achieve even half the standard of living we have they will have a call on half the world’s resources! If we don’t find a way to work with them we will be pushed off the porch. Remember, they also have a central bank and they can print money, too.

  2. jyl says:

    Election year, anti-China rhetoric will only get worse, and anti-US rhetoric will follow. Which of the FAAMNGs is exposed to China – hmm.

  3. Will Smith says:

    If he talks like a racist, he is a racist. POTUS not withstanding. Deplorable.

    This human is of German ancestry, he ought to know better than the rest of us the dark path that such hateful divisive racist rhetoric the world had to go down in the last century.

    And to playing a leading role and public advocate of it…. is worth of condemnation. POTUS or not.

    The fact that various public officials adopt the same racist rhetoric is extremely worrying if they continue to lead, rule for another 4 years

  4. Not one of the myriad American investors investing in Chinese companies had a gun to their head. China isn’t the only country that is run by questionable leadership that can suddenly cancel or seize your investment. Limit investing in these questionable countries to what you can afford to lose.

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