Congress Considering Five New Bills Targeting China Stocks & Bonds
These 5 bills have the potential of dealing a debilitating blow to Wall Street’s underwriting of CCP-controlled companies.
These 5 bills have the potential of dealing a debilitating blow to Wall Street’s underwriting of CCP-controlled companies.
It started with Trump. Then Biden took the baton and ran with it to introduce the first ever capital markets sanction against a country and its companies. Where the two leaders see eye-to-eye on China today, and in the near-term.
American investors in Didi and Full Truck Alliance lose over 20% of their investment as Wall Street firms like Goldman Sachs collect their fees selling companies surviving on the whims of China’s Communist Party. Last Wednesday, Wall Street helped Chinese rideshare company Didi raise billions from American investors in a massive Initial Public Offering (IPO).…
Jake Sullivan was right. More restrictions against Chinese companies were coming. On July 9, Gina Raimondo’s Commerce Department barred American businesses from working with 22 Chinese tech and military-connected firms. Next up: banning Wall Street from investing in these companies in China.
Big mutual funds run by Vanguard and ETFs run by State Street and BlackRock will have to divest from some China stocks within a year.
Most Americans would be shocked and angered to learn that the same Chinese companies currently building weapons to threaten U.S. troops are also simultaneously raising money in U.S. financial markets. And even more disturbing, Wall Street continues to help the Chinese Communist Party access U.S. financial markets and exploit unwitting American investors. In late 2020,…