US-China rift becomes a legal feud | opinion
email rounding up the lateston China, in 2018, he levelled a string of accusations at one of America’s biggest trade partners.
Four years on, the rhetoric has subsided. Now, the trade war between the world’s two superpowers is characterised more by intricate legal work than by volleys of invective across the Pacific. And the activity is particularly intense in two areas: technology and finance.that, at the end of 2020, the total value of two-way equity and bond holdings between China and the US was some $3.3tn — suggesting that, if financial decoupling really takes hold, the fallout would be significant.
Roger Robinson, president of RWR Advisory Group, a Washington, DC-based consultancy, sees a growing rift in US-China financial relations. “We are increasingly in an adversarial position vis-à-vis Beijing and it is necessary now to consider how we diversify away from the country,” he observed on a recent
China does not allow the US Public Company Accounting Oversight Board to conduct inspections of audits performed in China, meaning that some 270 Chinese companies listed on US exchanges are not subject to US accounting regulatory oversight.
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