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Biden Must Act as Beijing Targets U.S. Savings

excalibur

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Biden is a gross incompetent who is in the back pocket of the CCP.


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Congress has taken decisive bipartisan action to force companies that flout the PCAOB off U.S. markets, but the CCP probably won’t accept such accountability graciously. In fact, President Xi Jinping’s regime is becoming more belligerent by the day. It’s up to President Biden to protect American investors as the CCP vies for global leadership.

He can do that by enforcing and building on the Holding Foreign Companies Accountable Act, which Democrats and Republicans came together to pass last year. The law removes firms from American stock exchanges if they refuse PCAOB auditing for three years in a row.

China’s foreign-ministry spokesperson gave us a clue as to how much the law could disrupt the CCP’s economic strategy when she railed against it as “an unjustified political crackdown on Chinese enterprises.” The crackdown is, to the contrary, wholly justified. We are not asking Chinese companies to do anything that we don’t require all other companies, foreign and domestic, to do.

Unfortunately, President Biden has — perhaps unintentionally — made it harder to counter the CCP’s devilry. As the PCAOB prepared to implement the Holding Foreign Companies Accountable Act, he decided to replace its leadership. That slowed the watchdog’s plans to call on Chinese companies to show their hand. It’s a mistake to think President Xi hasn’t noticed.

Thankfully, there’s room for President Biden to course-correct. He could re-empower the PCAOB and protect Americans and their savings by supporting the Accelerating Holding Foreign Companies Accountable Act, which would give firms just two consecutive years — not three — to let the PCAOB audit their records.

...


 

Moonglow

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It's too bad you people can't use regular words and less gibberish in your composition..

The Accelerating Holding Foreign Companies Accountable Act would put additional pressure on China by requiring foreign companies to comply with PCAOB audits within two consecutive years instead of three. This would help remove fraudulent and non-compliant companies from U.S. exchanges more quickly.Jun 22, 2021




In separate announcements earlier on Friday, China Mobile Ltd (0941.HK); China Unicom (0762.HK) and China Telecom Corp (0728.HK) said they expect the NYSE to notify regulators of their delistings after the companies unsuccessfully appealed the move. A NYSE spokesman declined to comment.May 7, 2021

 
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excalibur

excalibur

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It's too bad you people can't use regular words and less gibberish in your composition..


What part of this is gibberish?

Unfortunately, President Biden has — perhaps unintentionally — made it harder to counter the CCP’s devilry. As the PCAOB prepared to implement the Holding Foreign Companies Accountable Act, he decided to replace its leadership. That slowed the watchdog’s plans to call on Chinese companies to show their hand. It’s a mistake to think President Xi hasn’t noticed.

 

Dragonlady

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What part of this is gibberish?

Unfortunately, President Biden has — perhaps unintentionally — made it harder to counter the CCP’s devilry. As the PCAOB prepared to implement the Holding Foreign Companies Accountable Act, he decided to replace its leadership. That slowed the watchdog’s plans to call on Chinese companies to show their hand. It’s a mistake to think President Xi hasn’t noticed.


Why would anyone leave someone who worked for Donald Trump in office?
 

P@triot

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Bejing Biden isn’t going to act against China - who is keeping he and his son in tens of millions (so his gross son can smoke crack cocaine and buy hookers)
 

P@triot

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Why would anyone leave someone who worked for Donald Trump in office?
Because the Trump Administration ushered in an era of unprecedented prosperity to the United States? :dunno:
  • Record low unemployment
  • Record market highs
  • Wages up across the US
  • Taxes down
  • Defeated ISIS
  • Secured the borders
  • Repatriated trillions of overseas dollars to the US
  • Highest manufacturing in decades
  • Repaired international relations destroyed by Obama
 

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