Posted on 07/30/2019 12:58:16 PM PDT by BeauBo
China's securities regulator has suspended 43 initial public offerings and refinancing cases being handled by the country's second-largest accounting firm... Ruihua Certified Public Accountants, which audits almost a third of all listed companies in China, is implicated in a scandal.
(Excerpt) Read more at yicaiglobal.com ...
President Trump tweeted today (30 July 19):
“China has lost 5 million jobs and two million manufacturing jobs due to the Trump Tariffs. Trumps got China back on its heels, and the United States is doing great.”
Hope his wife raised his life insurance.
I completely support Trump.
100%
But China last year, their slowest growth year in nearly 30 years...
Was still DOUBLE our own growth rate.
I wonder if the life insurance companies would even issue a policy on him now?
That’s probably executable in China.
Somebody’s gonna get shot.
Must not have paid Xi his cut.
"I don't want a lot, just enough to wet my beak."
“China last year, their slowest growth year in nearly 30 years... Was still DOUBLE our own growth rate.”
As this latest massive fraud further indicates, the numbers that China reports, and the reality, are probably pretty far apart.
Have you bought (anything) in America recently?
Anything?
There’s nothing the chinese won’t steal, lie about, or cheat over - even if there’s no actual gain to be had by doing so. The whole concept of “face” in screwing others over - again, even when it’s actually detrimental to their own long term profit - is built into their DNA.
I think it is still a numbers game we can’t win. We just don’t have the population to match them. Even with all out technical prowess its a hard factor to overcome. I am glad Big T is hammering them and we have a long way to go but time will tell. The political winds change way to much these days...
CC
The trend is your friend and the trend in China is
D-O-W-N!
“I think it is still a numbers game we can’t win.”
What does this mean? Do you think we need them more than they need us? If so you would be wrong. We are the worlds biggest consumers and are by ourselves responsible for buying over 31% of the entire worlds output of good and services.
Nations fight to get on our “buy from” list. China has far, far more to lose in this trade war than we do.
15+ years ago I worked with a Chinese Province to spin-off and list one of their state-owned assets on the HK Stock Exchange, ostensibly so they could raise funds, build some new capacity, etc...
We asked for 5 years of P&L numbers and statements. Their reply: OK, sure. What would you like the numbers to be?
You miss understand. Numbers meaning the numbers of workers in that country. The US is by far the top consumer but when you look at the Chinees employment base or work force it is somewhere around 500+ people depending on the source of information and projections up to 800+ million in the next 15 years so we are in trouble. In the course of the current trade imbalance and labor markets involved we simply do not have the man power.
I would agree on the buy from list but more and more of our products are not made here. Assembled yes but the manufacturing base is in a shambles. No where near what it was 20 years ago.
The 31% data also is concerning. We have to build more and export more to sustain the ability to purchase goods no matter where it comes from. To do that we need a solid industrial base and even better work force.
China manipulates data and currency on a whim and I am glad Big T is all over them.
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