Posted on 08/02/2021 7:35:12 AM PDT by tired&retired
China moves to reassure global investors who have been drawn to country’s strong growth, booming tech industry
American investors are asking whether China Inc. is still worth the risk following a widening series of regulatory crackdowns that have wiped some $400 billion off the value of U.S.-listed Chinese companies.
Investors ranging from pension fund Orange County Employees Retirement System in California to money manager William Blair & Co. are rethinking their portfolios following Beijing’s decision last week to curtail the operations of China’s for-profit tutoring industry along with its ongoing campaign to rein in tech companies....
(Excerpt) Read more at wsj.com ...
No, not very sorry.
Zero sympathy for those supporting the PRC and their growth. Would have felt the same with Ford and IBM investing in the National Socialist in the 30s and 40s..
“rethinking their portfolios”?
Sounds like some PR flack is trying to cover up a huge mistake.
The CCP has always had a party office in any large concern and a strong say in what the concern does. This most recent regulatory crackdown just brought this fact into a clearer focus for outside investors. And a lot of the lost a whole bunch of money. That is a lesson they will remember and heed.
I’ve never trusted any Chinese company enough to invest in them. I remember hearing some people claim “they’re more capitalistic than we are” a few years back.
They are “crony capitalism”, aka Fascist. No thanks.
The lights went on for me in 2018 when the MSCI was adding Chinese companies to their international index funds. I realized that all these companies were just a stroke of the pen away from being destroyed by the transnational criminal enterprise known as the CCP. You can’t invest with organized crime and expect a fair outcome. It was clear then but a lot of people thought they could hold out and win in the end. Sad.
Must reading—many Freepers do not know the history:
https://www.amazon.com/Wall-Street-Trilogy-History/dp/0999492918
Wall Street financed the Communists, the Nazis, and FDR.
They rig the game and then play it.
Bet the Biden family made money.
SUCKERS !!
You nailed it. Capitalizing the rope that will hang us.
Plus all Chinese company’s books are as crooked and phony as Bernie Madoff’s published fund returns.
I agree...
Early in my career I worked for one of the Big 4 CPA firms auditing international companies and preparing SEC filings.
When I realized that Chinese companies were not required to report using Generally Accepted Accounting Procedures (GAAP) it was a big red flag for me.
Even if they used GAAP would it matter if the raw input numbers were as crooked as a dog’s hind leg?
You pays your monies, and you takes your chances.
Kind of like their current overstated agriculture production reports being overstated so they can buy up commodities at suppressed prices.
Bet they are also purchasing commodities under Smithfield Meats which they own so they are under the radar.
I don’t play at crooked or rigged games.
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