Will this lead to more paydays for Hunter Biden and The Big Guy? Joe Biden has extended China’s access to the US markets with one big difference. Chinese companies will not be forced to obey US regulations in their business dealings and that puts US businesses at a huge disadvantage because they do have to follow the regulations and shoulder the costs for doing so. Those are costs the Chinese will not have to pay, meaning they can sell their products much cheaper than our businesses can.
But, tell me do any of you feel surprised at Biden’s latest move? If you do, please tell me why. Since taking office, Joe Biden has done things to benefit Russia, China, Iran, and illegal aliens, while placing burdens on Americans that are almost impossible to bear. High inflation and gas prices have forced many Americans to take second jobs in hopes of squeaking by. Those hopes are being destroyed on a daily basis thanks to the policies of the Dementor in Chief.
The Sarbanes-Oxley bill has forced companies to spend millions and billions in compliance costs, costs that Chinese companies will get to avoid altogether. The bill was passed shortly after the ENRON collapse. But, for some strange reason, Joe Biden decided that Chinese companies should not bear the same burdens that American companies have to deal with. Maybe, someday the voters will elect people from the party that does not hate everything American.
Furthermore, the agreement allows Chinese companies access to billions in loans from American lenders that are not available in China. And, of course, every dollar the Chinese companies borrow is money American companies will not have access to.
VP Biden Gave China Easy Access to US Markets Then Hunter Received $1 Billion, Now China’s Economy Is Failing and US Investors Are Stuck
Vice President Joe Biden gave China a sweetheart deal in 2013 that allowed China’s companies access to US markets.
Joe Biden’s deal gave Chinese companies a special benefit. They didn’t have to fully comply with key US regulations surrounding financial reporting.
A few months later Hunter received $1.5 billion from China. This is open lawlessness.
Quid pro-Joe struck again.
This past week the Public Company Accounting Oversight Board (PCAOB), the same entity that China didn’t have to comply with based on Biden’s previous actions, had a vote on China. Biden will continue to give China access to US markets.
The PCAOB was proud to say:
For the first time in history, the PCAOB has secured complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong. And this morning the Board voted to vacate the previous determinations to the contrary.
This historic and unprecedented access was only possible because of the leverage Congress created by passing the Holding Foreign Companies Accountable Act. Congress sent a clear message with that legislation that access to U.S. capital markets is a privilege and not a right, and China received that message loud and clear.
Frank Gaffney has kept an eye on this and says:
Joe’s latest service to Communist China? An obscure federal agency known as the PCAOB cleared the way yesterday for American investors to continue underwriting the CCP threat.
That’s insane – and treasonous.
I predict Biden’s next move will be to trade generals with China. China will send us generals Chung, Hueng, and Chang and Biden will give China General Motors, General Mills, and General Dynamics. I’m not sure I said that as satire because I believe it is possible if the price is right.