Analysts in China today denounced the United States’ intention to limit the country’s operations in the U.S. stock market, with a decree that led to eliminating 21 domestic firms from the S&P Dow Jones index.
According to the analysts, the move is part of the economic decoupling promoted by the Donald Trump administration. It aims to restrict foreign capital flow to the Asian giant’s financial services, such as the insurance industry.
Observers also foresee an eventual blockade of Chinese corporations in U.S.stock exchanges, which would push them to look for other alternatives and to value their incorporation into the national markets of Hong Kong, Europe, and Southeast Asia.
The day before, S&P Dow Jones announced the exit of 21 Chinese companies from all its stock indexes as of December 21 and the elimination of assets issued by another 18 in the fixed income indexes as of January 1.
In this way, it followed in the footsteps of its industry counterpart FTSE Russell, which withdrew the shares of eight of these entities from its analyses after the White House blacklisted them for their alleged links with China’s military sector.
One of the affected corporations, Hikvision, expressed its opposition to the measure, considered it to be without foundation, and assured that it does not maintain links with any military institutions.
Meanwhile, Beijing authorities denounced Washington’s politicization of economic and commercial affairs, its abuse of power, and its use of national security as a pretext to harass foreign businesses.
Observers agree that such acts are part of Trump’s end-of-term offensive to increase pressure on China and prevent his successor, Joe Biden, from purging the nation’s bilateral ties of confrontation. TELESUR