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Fair point and something I didn't think about. However, your comment doesn't address the point of the article which is that China is using it's influence to sk
by born_a_skeptic 6y ago
Fair point and something I didn't think about. However, your comment doesn't address the point of the article which is that China is using it's influence to skirt U.S. Accounting Rules.
https://www.wsj.com/articles/trump-may-push-for-chinese-companies-to-follow-u-s-accounting-rules-for-stock-listings-11589459803?mod=politics_lead_pos5 https://www.wsj.com/articles/trump-may-push-for-chinese-comp...
- mullingitover 6y agoWell, the headline itself is trying to imply that China is trying to buy BR, which is totally unsupported by the article. The article's central thesis, however, seems to be this: > And while marketing Chinese investments that lack the basic auditing safeguards of U.S. companies, BlackRock is threatening to vote against boards that do not apply burdensome environmental reporting standards that have no statutory or regulatory standing — this, amid the deepest economic crisis since the Great Depression. BlackRock’s hypocrisy speaks for itself: punishing American companies that decline to apply entirely voluntary standards while being mute about Chinese companies’ lack of audit oversight and enforcement. There could hardly be a more blatant case of double standards. BR doesn't have any direct power over China's accounting rules, and I'm sure they'd love it if China's businesses had orthodox accounting standards.
- born_a_skeptic 6y agohttps://www.zerohedge.com/markets/stocks-yuan-tick-lower-senate-passes-bill-could-force-de-listing-chinese-companies https://www.zerohedge.com/markets/stocks-yuan-tick-lower-sen...