China has made clear its disapproval of local companies seeking IPO offerings in the US stock market. By pulling stunts like launching cybersecurity reviews which require the companies to suspend new user registration for the duration of the process (1), or removing an app from its mainland store *—*resulting in these stocks plummeting mere days after going live, China is punishing these companies and sending a clear message to others who hope to be listed (2).
Several Chinese firms have abandoned their plans for US listing, rather than suffer the consequences (3), as regulations are tightened to ensure the west will not have an iota of access to their data, and perhaps in hopes that these companies will opt for listing in markets closer to home (4).
As the US implements further sanctions and regulations (5), China is putting the bulk of the blame for their countermeasures squarely on the US’ shoulders, claiming it’s merely responding defensively to American aggression. These measures are putting Chinese companies who seek to go global ”between the devil and the deep blue sea”, unable to comply with both US and Chinese laws without risking penalties from either side (6).
China scored a deal with Iran guaranteeing 25 years of access to Iranian oil at peanut prices. The deal, further sweetened by its ”f@#k you” to the US who has as yet failed in reaffirming the return of a strong United States (7), allowed China to smugly throw in America’s face their evident declining hegemony (8).
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