Current Relations With China: How Could This Affect Trade?

On December 2^nd, the House of Representatives unanimously passed a bill that may ultimately cause Chinese companies to be delisted from the U.S. stock exchange. The purpose of the bill is to allow U.S. accounting regulators to audit Chinese companies that are traded on the U.S. stock exchange. To date, Chinese law makes it illegal for Chinese companies to be subject to the same foreign oversight that other countries have. Currently, Chinese companies are required to maintain their books in the mainland of China, and do not have to provide information to U.S. agencies. Aside from the potential for Chinese companies being delisted from the U.S. stock exchange, it is likely this bill will have larger implications when it comes to U.S. and Chinese relations.