FINANCE
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Why China's takeover of the Chicago Stock Exchange would have been a very bad thing
By Gordon G. Chang | Fox News
Late Thursday, the Securities and Exchange Commission issued a notice announcing it did not approve the proposed acquisition of the 136-year-old Chicago Stock Exchange by a Chinese-led consortium.
The Chicago exchange, better known as CHX, is not happy, saying in a statement the SEC “unfairly” disadvantaged “our company and shareholders.”
The stakes for the rest of America are high. As Rep. Robert Pittenger, R-N.C., pointed out before the SEC turned down the deal, a successful takeover would be “the first time a Chinese-owned, possibly state-influenced, firm maintained direct access into the $22 trillion U.S. equity marketplace.”
At the moment at least, Chinese plans are on hold. And that, for many reasons, is a good development.
In December 2016, CHX filed a proposed rule change, pursuant to the Securities Exchange Act of 1934, that would allow a group, led by Chongqing Casin Enterprise Group, to acquire the exchange.
Chinese ownership could permit Beijing to “breach personal and business data.”
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READ MORE: http://www.foxnews.com/opinion/2018/02/19/why-chinas-takeover-chicago-stock-exchange-would-have-been-very-bad-thing.html
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“Why on earth would we think that allowing them to control a U.S. exchange is in our interest?” Wessel asks.
Casin’s bid to buy CHX is unlikely to be the last Chinese attempt to control an American exchange. The next offer from that country will require Washington to answer, head on, Wessel’s critical question.
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What do YOU think?
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Chân thành cám ơn Quý Anh Chị ghé thăm "conbenho Nguyễn Hoài Trang Blog"
Xin được lắng nghe ý kiến chia sẻ của Quý Anh Chị trực tiếp tại Diễn Đàn Paltalk: 1Latdo Tapdoan Vietgian CSVN Phanquoc Bannuoc .
Kính chúc Sức Khỏe Quý Anh Chị .
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