On May 29, 2019, Huanqiu published an editorial on how the U.S. Wall Street is trying to kick out Chinese companies. “As the U.S. trade war with China widens, the call to drive Chinese companies out of Wall Street is rising considerably in the United States. Extremists, who advocate depriving Chinese companies of their right to be listed in the U. S. stock exchanges, claim that Chinese companies have raised tens of billions of dollars from the U.S. stock market over the years and that it is another pipeline, in addition to the trade surplus, for China to take advantage of the United States. They are eager to push Washington to cut off the pipeline and decouple China and the United States in the financial market.”
If that happens, the State media reasoned, it would merely reduce the financing sources available to Chinese companies, but it would have a much greater impact on the U.S. investors wishing to benefit from Chinese economic growth.
To the extent the United States shuts out Chinese companies from its financial market, Huanqiu believed, “There will be many capital markets in the world that welcome China’s promising companies. The United States has closed down one road through which China opens up to the outside world and cut off its financing links with the world’s largest developing market. It would be an interesting question whether that causes more harm to China or to the United States.”
Finally, the State media concluded, “In our view, the arrogance of some Americans towards China has become abnormal; they increasingly live in all kinds of fantasies and (act on) impulse. They really seem to believe that the lifeline of China’s prosperity today is in the United States and that no matter how tall the big tree of China grows, most of its roots are deeply embedded in the United States. They imagine that as long as they cut those roots, China’s modernization will be struggling and eventually collapse. The arrogant American elite should go recalculate it.”
Source: Huanqiu, May 29. 2019