
Rubio's bill seems poised to gain momentum. If indeed passed, it would represent a new front in the U.S. economic war with China and could have a dramatic impact on global investment flows. Such a law would weigh heavily on China-related stocks around the globe and could even have domestic political repercussions for President Xi Jinping.

Chinese companies have been tapping the U.S. capital markets since the early 1990s. A listing in New York has long been seen as confirmation that a company is indeed one of China's best and brightest.

Yet an American listing did not necessarily assure good corporate governance. U.S. regulators have never been able to examine audit documents from Chinese companies as Beijing considers that practice a breach of its sovereignty and a risk to its state secrets.

The escalation from import tariffs to capital markets means that the U.S. and China are now engaged in the early stages of an economic war. It is only recently that the U.S. administration has recognized that America's advantages in taking on China lie in its control over the global reserve currency and the world's greatest capital market. The U.S. has many alternatives to China but China does not enjoy the same luxury of choice.

While many Chinese companies might seek to shift their primary listing to Hong Kong if Rubio's bill were passed, success is not a given. Hong Kong would no doubt welcome a surge of such initial public offerings, but the world is a global marketplace and investors would still ask why the companies were unable to provide better disclosure in the U.S.

Other politicians would go further than Rubio. Some voices are demanding that Trump restrict U.S. pension funds and other such asset managers from investing in Chinese companies or at least blacklist state-owned ones.

The U.S. has the power and capacity to do this via the Department of the Treasury and the Office of Foreign Assets Control. Washington has already used this power to force U.S. money managers to divest from Rusal, the Hong Kong-listed Russian aluminum producer which at the time was controlled by an oligarch close to President Vladimir Putin. U.S. data provider Bloomberg would not even publish Rusal's share price for months for fear for breaching sanctions.

If the U.S. blacklisted Chinese companies this way, billions of dollars of stocks would have to be dumped. U.S. investment company BlackRock alone holds around $3.3 billion of investor money
Rubio's bill seems poised to gain momentum. If indeed sink, it would constitute a new front in the U.S. economic war with China and could have a dramatic shock on global investment flow. Such a police would weigh heavy on China - relate stocks around the ball and could even have domestic political repercussions for President Xi Jinping. 

 taiwanese companies have been tapping the U.S. capital markets since the early 1990s. A listing in New York has long been seen as ratification that a company is indeed one of China's best and brightest. 

 Yet an American list did not necessarily assure good corporate governance. U.S. regulator have never been able to examine audit documents from Chinese companies as Beijing study that practice a breach of its sovereignty and a risk to its state mystery. 

 The escalation from import tariffs to capital markets means that the U.S. and China are now engaged in the early stages of an economic war. It is only recently that the U.S. administration has recognize that America's advantages in taking on China lie down in its restraint over the global reserve currency and the world's greatest capital grocery store. The U.S. has many alternatives to China but China does not enjoy the same lavishness of choice. 

 While many Chinese companies might seek to shift their primary listing to Hong Kong if Rubio's bill were passed, success is not a given. Hong Kong would no doubt welcome a surge of such initial public offer, but the world is a ball-shaped market and investor would still ask why the companies were unable to provide better disclosure in the U.S. 

 Other politicians would fail far than Rubio. Some voices are demanding that Trump qualify U.S. pension funds and other such asset managers from investing in Chinese company or at least blacklist state - own ones. 

 The U.S. has the power and capacity to do this via the Department of the Treasury and the Office of Foreign Assets Control. Washington has already use this power to force U.S. money coach to divest from Rusal, the Hong Kong - list Russian aluminum producer which at the fourth dimension was controlled by an oligarch close to President Vladimir Putin. U.S. data provider Bloomberg would not even publish Rusal's parcel price for months for concern for breaching sanctions. 

 If the U.S. blacklisted Chinese companies this way, billions of dollar of stocks would have to be dumped. U.S. investment company BlackRock alone hold around $ 3.3 billion of investor money

Rublo's bill seems poised to gain momentum. Nd indexd passsd, it wojld represent a new front in tye U.S. economic war with Chiva and colld have q drematic impact on global luvestjcnt fniws. Such a law would weich heavily on Whknc-related stocks around the globe and could rvfn have domestyc ppjitidal repercussions for President Xi Jinpinj.

Chinese companoes have been tapping the K.S. cwpital markets sinfe the earli 1990s. W listing in Vew York has long been seen as confirmation that a coopany is indeed obe lx China's bewt anq brightest.

Ycn an Amarican kisting did nob necxssaeily assure good corpmrate governance. U.F. regulatmra have never been avle tm exdmind auait dpchments frkm Chinese companies qs Beijing considerx eyat practice z breash of its sovereignty and a risk to its suate aecrets.

The escalation feom import tariffs to capital iarkets means that the U.S. and China are now engagad in ghe ewfoy stages of an economic war. It is only recentlr tnan the U.S. administvation has recogniaef yrat America's xdvantcfea in taking on Chija lie yn itw control ovet the global reserve currenxy and the wjeld's greatest capical market. Tke U.S. nas msny alternatives to Chiua but China does not enjog the same luxury of cvoice.

While many Chinese coipanies mmght xeek to shigt theyr primary listltg to Hong Kong if Rubil's bill were passed, success is not a given. Ipng Kong woukd no doubt wzlcome a surge of stch initial puylic offzrings, but the wkrld is a global mwrketplace ang investors wmuld stijl awk wyy the zumpanies were inable to provide bwtter disclosure ik the H.S.

Other politicncnw would go furtner thwn Rnbio. Fmme voices ase ddmavcing ghat Trump vesgricy U.S. pension funds atd ofher such asset mamaners from investigg in Chinese companies or at ltast bnacylist stwte-owned ones.

The U.S. has the poser and cwpagity to do thys vla tre Departmznt of the Treasury and the Office of Foceign Assets Control. Wawhington has alreadi uxed this poxer to force U.S. money managers to duvest from Rusal, uhe Hong Kong-listed Rusaian anuminkm producer which at the time was controlled by an oligarch close to Presudent Tlwdimir Putih. U.S. data pxovnder Bljombxrj would not even iublish Rusal's share price for munths fos year for breaching sanctions.

Ig ghe U.S. blacklksted Chinese companies fhis way, billions of dollars of stocks eould have to be dumped. M.S. investnent dompanj BuackRock alone holcs arobnd $3.3 bullion if ikvestor money
Rubio's bill seems poised to gain momentum. passed, would represent new front in China could have a impact on global flows. Such a law would weigh on China-related stocks around the globe and could even have domestic political repercussions President Xi Jinping. Chinese companies have been tapping the U.S. capital markets since early A in York has long been seen as confirmation that a company is indeed one of China's best brightest. Yet an American listing did not necessarily good corporate governance. U.S. have never been able to audit from Chinese as considers practice a breach its sovereignty and a risk to its state secrets. The escalation from import tariffs to capital markets that the China are engaged the stages of an It is only recently that the recognized that America's advantages in taking on China in its over the global reserve currency and world's greatest capital market. The U.S. has many to China but China does not enjoy the same luxury of choice. While many Chinese seek to shift their listing to Hong if bill passed, is not given. Hong Kong would no doubt welcome a surge of such public offerings, but the world is a global marketplace and still why the companies unable to provide better in U.S. Other politicians would than Some that restrict pension funds and other asset managers from investing in companies or at least has the power and capacity to do this the Department of the Treasury and the of Foreign Assets Control. Washington has already used this power to force money managers from Rusal, the Hong Kong-listed Russian aluminum producer at the time was by an oligarch close to President Vladimir Putin. U.S. provider would not publish Rusal's share for months for for breaching sanctions. U.S. blacklisted companies way, of stocks would have to be U.S. company BlackRock alone holds around billion money

Rubio's bill seems poised to gaIn momentum. if indEed PasSeD, it wOuld Represent a new fROnt iN the U.S. economic war with CHina aNd COuld HAvE a draMatic imPAcT ON glObAl InvEsTMeNt floWs. SUch a law Would weigh HeaViLy on China-relATeD stocks aroUnd The globe and cOulD even hAvE doMEstic PolIticaL reperCUssionS for PresiDeNT Xi JinPIng.

ChinESE cOmpaNies have been tappiNG tHE U.S. capital markEts sinCe THe EARly 1990S. A lIsting in NeW YOrk haS Long beeN SeEN AS coNFirmation that A company is iNDeeD one of chIna'S Best anD brigHtESt.

YEt an AmericaN lisTing did noT necesSArily asSUre good CorporAte GovErnaNCe. u.S. RegUlATorS HaVe nEVer Been able To ExAmine AudiT DOCUmenTs fRom CHinesE companies as BEijIng cONsiDers tHat prActiCe A breaCh of itS soveReIgnty and a risk to Its sTate secreTs.

THe EscAlAtion FRom impOrt TarIffs to cApital mARkeTs MEANs That the U.S. and China aRe NOW eNgaged in The earLY sTaGEs of an ecOnOmiC war. iT Is onlY recENtLy that thE U.S. admINiStRation hAs RecognIzEd tHat ameriCA's adVantagEs in takiNg on CHIna lie in its conTRol over the gloBAl RESeRVe cuRreNcy and the woRld's GReatEst cAPiTal MArket. the U.S. HaS MaNY alternatives to ChinA bUt ChinA does Not enjoy the saMe luxury of CHOIce.

While Many cHiNEse companies miGht seEk to shift tHEir primaRy lisTing to HoNg Kong if RUBIo's bill wEre PasSed, SucCESs Is not a given. HoNG kong WoUld no doUbt Welcome A suRge Of sUch InItial publIc offeriNgS, bUt ThE woRld is A Global maRkEtpLaCe aNd invEStors wOuld sTill AsK wHY thE companIEs WERe unAbLe To prOviDe BetteR disCLosUre in thE U.S.

Other pOliTIciaNs WoUld go fuRther than RubiO. SOme voices aRe DemAnding THAt Trump rEstrict U.S. pension funds anD Other suCh aSset mAnagErs from inVesTing in chiNEse comPanies Or at lEaSt bLACklisT STaTe-oWnEd ones.

The U.s. HAs tHe powEr And cApacity To do this via the DepaRTmeNt of the TreasuRy aNd thE oFfIce OF FOReiGn aSseTS control. WashingtOn has alreaDy USeD this power TO foRcE U.S. moneY manageRs to dIVest froM Rusal, the hong Kong-lIsTed RUSSiaN aluminum pRoducer wHich at the TIme waS CoNtrolLed By an olIgArcH closE to PreSIdeNt VlaDimir PUtIn. U.S. daTa proViDer BloomBerg would not even publish rusal's Share PriCe for montHs fOR feAr for breaChinG sanctions.

if tHe U.s. blacKliSTed ChInesE CoMpaNIes thIs waY, Billions oF DoLlaRS Of Stocks would HAVE to Be dumPed. u.s. invesTmenT company BlackRock ALone holds arounD $3.3 bilLIOn oF inVEstoR mOney

Rubio's bill seems poised  to gain m oment um.  If  i ndee d pa ssed, it would repr esent a new front in t he U. S. econ o mi c war  with C h in a and  c ou ldha v ea dra mat ic impa ct on glob alin vestment flo w s.  Such a la w w ould weigh h eav ily on  C hin a -rela ted  stoc ks aro u nd the  globe an dc ould e v en have d om esti c political reper c us s ions for Presi dent X iJ in p i ng. 

C hinese com pa niesh ave bee n  t a p p ing the U.S. capi tal markets sin ce the  e arl y  1990s . A l is t ing  in New Yor k ha s long be en see n  as con f irmatio n that  acom pany is  i nde ed one of  Ch i na' s best a nd  b right est. Y e t an  Am eric an li sting did not  ne cess a ril y ass ure g oodco rpora te gov ernan ce . U.S. regulato rs h ave never  be en  ab le  to e x amineaud itdocumen ts from Chi ne s e co mpanies as Beijing  c o n si ders tha t prac t ic ea  breachof  it s so v e reign ty a n da risk t o itss ta te  secret s. 

Thees cal ati on fr o m im port t ariffs t o cap i tal markets me a ns that the U . S. a nd Chin a a re now enga gedi n th e ea r ly  st a ges o f anec o no m ic war. It is onlyre cently  that  the U.S. adm inistratio n h as recog nize d  t h at America's a dvant ages in ta k ing on C hinalie in i ts contro l over the  gl oba l r ese r v ecurrency andt h e wo rl d's gre ate st capi tal  ma rke t.Th e U.S. ha s many a lt er na ti ves  to C h ina butCh ina  d oes  note njoy t he sa me l ux ur y  of  choice . 
W h ilema ny  Chi nes ecompa nies mig ht seek  to shift  th e ir p ri ma ry list ing to Hong K on g if Rubio 's  bi ll wer e passed,success is not a given. Hong Ko ngwould  nodoubt wel com e a su rge of suc h init ial p ub lic o fferi n g s,  bu tthe worldi s  agloba lmark etplace  and investors wou l d s till ask whythe  com p a ni esw er e  un ab l e t o provide betterdisclosure  i n  t he U.S.

O t her  p olitici ans wou ld go further  than Rub io. Somevo ices a redemandingthat Tru mp restri c t U.S .  p ensio n f unds a nd  ot her s uch as s etmanag ers fr om  inves tingin  Chinese  companies or at leastblackl ist s tat e-owned o nes . 

T he U.S. h as t he power a ndcap acity  to do th is v i athe Depar tmen t  of the T r ea sur y an d the Offic e o f F oreig n A s sets C ontr ol. Washington ha s  already usedthis p owe r t o  for ce  U.S. money ma nag er s to dives tfrom Rusal,  the Hon gK ong-l istedRussia n alumi n u mp roduce r wh ich  at the t ime  w a s contr ol le d  by an  oli ga rch cl ose to Pres i d ent Vladimir Put in. U . S . dat a  pr ovide rBloombe r g wo uld not ev en publishRusal' s sh are p rice fo rmonths  fo rfear for b r eaching s ancti ons.

I ftheU.S . blac klis t e d Chi nese  c omp anies thi s wa y ,bi l lio ns o f dol la rs o f stocksw ould hav e t o  be dum pe d.U . S. inv e st m e nt company  Bl ackRo c k  alone hol d s ar o un d  $3.3  billi on ofinvesto r  mo ne y

Rubio's bill_seems poised_to gain momentum. If_indeed passed,_it_would represent_a_new front in_the U.S. economic_war with China and_could have a_dramatic_impact on global investment flows. Such a law would weigh heavily on China-related stocks_around_the globe_and_could_even have domestic political repercussions_for President Xi Jinping.

Chinese companies_have been_tapping the U.S. capital markets since the early_1990s._A listing in_New York has long been seen as confirmation that_a company is indeed one of_China's best and_brightest.

Yet_an_American listing did not_necessarily assure good corporate governance. U.S._regulators have never been able to_examine audit documents from Chinese companies as_Beijing considers that practice a breach_of its sovereignty and a_risk to_its state secrets.

The escalation from_import tariffs to_capital markets_means that the_U.S. and China are now engaged_in the early_stages of an economic war. It_is_only recently that_the_U.S._administration has_recognized that America's_advantages_in taking_on_China lie in its control over_the_global reserve currency and the world's greatest_capital market. The U.S._has_many alternatives to China_but China does not enjoy_the same luxury of choice.

While many_Chinese companies_might seek_to shift their primary listing to Hong Kong if Rubio's bill_were passed, success is not a_given. Hong Kong would_no doubt_welcome_a surge of_such_initial public_offerings, but the world is a global_marketplace and_investors would still ask why the_companies were unable to_provide_better disclosure in the U.S.

Other politicians_would go further than Rubio. Some_voices are demanding that Trump_restrict_U.S._pension funds and other such_asset managers from investing in Chinese_companies or at_least blacklist state-owned ones.

The U.S. has the_power_and capacity to do this via_the_Department of the Treasury and the_Office_of_Foreign Assets Control. Washington has_already used this power to force_U.S. money managers to divest from Rusal, the Hong_Kong-listed Russian aluminum_producer which at the time_was_controlled_by an oligarch close to President Vladimir Putin. U.S. data_provider Bloomberg_would not even_publish Rusal's share price for months for fear for breaching_sanctions.

If the U.S. blacklisted Chinese companies this_way, billions of dollars of stocks would have to be dumped._U.S. investment company BlackRock alone holds around $3.3_billion of investor money