After rumours about the United States decision to delist Chinese firms registered in US Stock markets, China says that it will harm both the countries. The current economic climate is under threat by not only rising escalations in the Middle-East as well as the trade war between the United States and China.
With China already concerned about the move, it could escalate the level of uncertainty and volatility in the international market.
According to a report in Reuters, Chinese Foreign Ministry spokesperson Geng Shuang said, “Exerting maximum pressure and even seeking the forced decoupling of China-U.S. relations will harm the interests of Chinese and American companies and people, create turmoil in financial markets, and endanger global trade and economic growth.”
The US has been sharing its concern about the activities of the Chinese firms and its failure to allow any oversight on them. China has been working closely with the United States to forge a deal between the two.
China has been in a trade war with the United States for over a year. Both of them have imposed heavy tariffs over each other which has had a major impact on the global market. Earlier in the year, aa bill was introduced in the US Congress which would allow the Chinese Firms to open their books to auditors and allow US oversight on their activities.
This increased the concern of the Chinese government which stated its National Security concerns over the oversight and the audits. China and the US are yet to finalise a deal which would bring this trade war to a halt.
(Inputs from agencies)