A new bill that targets Chinese companies listed on U.S. exchanges could not only "backfire" on American investors, but also hurt Wall Street — which will lobby against the legislation, a Harvard professor told CNBC on Tuesday.that could essentially ban many Chinese companies from listing their shares on U.S. exchanges, or raising money from American investors.
It's highly unlikely that China is going to allow inspections of audits done in mainland China. This will cause the stock prices of these firms to fall, the people controlling these firms will then be able to take these firms private at a very low price to the disadvantage of American investors.
"So I think in terms of protecting American investors, this bill if it becomes law, could backfire," Fried warned.
Greed may finally force a confrontation with MAGA. How ironic.
Chinese companies should not continue to be listed on US exchanges. Many ignore zuS rules and good business practices.
Trump's mommy was a bad bad bad bad mommy. Humpff.
Lukcin coffee wasn't a great succes but other companies are showing value to be listed on the US exchange.
Requiring all companies listed on US exchanges to comply with the same accounting and auditing standards is the only way to protect the investing public. Although the Wall Street Fat Cats probably don't like it killing their golden goose.
This will slap some reality into investors. $36 trillion in stock “value” = $0 real money. There isn’t a public company alive, not $GOOG $AMZN, no one can repay what shareholders think they’re entitled to.
Trump would love to enlist Russian stocks.
His followers still want to assert Trump’s not racist?
POTUS let's draintheswamp together millionsofus 2020Election
He’ll never hurt Wall Street. Too many 1%ers are invested. Too many portfolios invested in international stocks.
What is wrong with him seriously
The audit requirement is no different than what is required of local companies; the point is to protect investors from fraud. They never should’ve been granted this exemption.
They can stay as long as agree to American independent auditing to match other listed firms. Make China play fair!
Julian02850161 Wall Street is the enemy of us
Tough talk from Don The Con Never happens..
loislane28 probably a good idea
Will Trump and Ivanka stop manufacturing their products in China?
Certainly not intelligent thing to do.
I trust Trump 100% pull it down.
Do it
just stop all buybacks and tax 300% of all manufacturing outside US and wallstreet will suck his dong
It’s going to happen eventually. Chinese listed companies here will just list in Hong Kong. You either follow the US laws or don’t get to list here. Too many examples of Chinese fraud to allow this to continue to happen
I would strongly support to delist, & any US firm has established in China must have different tax rate including exporting from China to USA. This will help more manufacture in USA a& more job creation
Somebody tell Trum that the Chinese own 8% of the US Debt
ULTRA BULLISH , TOMORROW POWELL WILL BUY ALL
Trump trying to wreak as much havoc on the world as possible before he's kicked out of office in November
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