In practicing an unrealistic idealistic Laissez-Faire approach to governing free market principles, the NYSE board of Directors reneged on a recent decision to ban a trio of Chinese telecom stocks compromised by an alleged collaborative relationship with the People’s Liberation Army. Leadership at the world’s largest stock exchange was probably wary of the pureness of basic economic theory tainted by the the temporary expulsion slapped on the offending companies, for doing business with the devil or dragon, and erred on the side of caution in maintaining some obscure and tawdry vision of integrity fostered behind the ivy laden walls barricading young minds from the rigors of life.
All facets of the sordid narrative conspiring to matriculate a dastardly conundrum worthy of the subversive source code behind Dominion voting machines, fail miserably in achieving reason. As the interconnected global infrastructure is configured for redundancy, the equally maniacal reciprocal of the “one-world, single-universe” electronic domain follows Newton’ interpretation of orchestrated dynamics to a tee, “for every reaction, there is an equal, but opposite reaction.” While it is obvious as to those who are committing egregious acts of fraud or corporate espionage, their crimes send shockwaves throughout the entire system, costing companies and investors billions. Within an environment where transparency is obsolete thanks to the digital deities of data mitigation professionals spawning an outlier to the classical definition of justice, the ceremony of namesakes no longer adhere to consequence.
The three corporate entities heavily interfaced with Beijing and earning a resounding technicolor asterisk, China Mobile, China Telecom and China Unicom, were all on the cusp of being delisted and banished to futures market degenerate of Enron speculation, minus the US Attorney General and Federal Trade Commission theatrics. Through an executive order, the three unofficial arms of PLA military counterintelligence and misinformation faced complete annihilation in the Western world. The Trump administration provided a pleasant surprise for experts and businesses that endured the decade of the 1990’s prevalence of Chinese shell companies founded to provide indirect funding channels for military defense research prompted directives authored within Communist party chambers. The legitimate looking guise landing some notable trophy catches, including Fortune 500 giants, and prompted a heading under the National Defense Authorization Act of 1999 facilitated by the Department of Defense which can be downloaded here, in identifying Chinese private firms directly involved with the PLA. For twenty years, the specific section of the NDAA remained in a dormant state as a simple glorified list, until Trump authorized an official crack down on offending businesses in 2020.
Excerpt from the Strom Thurmond 1999 National Defensive Authorization Act, which officially recognizes the presence of the PLA within the business community.
In June of last year, the Pentagon officially released a top-20 wanted list of Chinese ventures red-flagged for involvement with the PLA, which of course included the aforementioned trio of corporations granted a reprieve by the NYSE.
However, in a curious and tedious anti-Capitalistic move, board members of the NYSE have subsequently floundered on the decision of expulsion, and indirectly endorsed unethical business practices in the process, and the unconscionable duality between a corporate entity and a governmental organ, which proves an impossible and nonlinear abomination when weighed against the entire spectrum of acceptable business practices. The coddling and preferential treatment of Sino manufacturing syndicates would at least be understandable, considering that a multitude of industries sold out the US workforce beginning in the 1980’s, but the latitude displayed towards communications firms borders on the unforgivable.
In the wake of the Tiananmen Square massacre, and strict sanctions place on China, the politburo has constantly lobbied for super special status in being granted ‘civil-military integration’ permission that allows companies and the military to publicly integrate. While the gesture is superficial in light of the prevalence of sketchy profit and defense partnerships already in existence, one cannot blame the Communist majority for trying.
Interestingly, Chinese tycoon and Communist Party senior member, Jack Ma, founder of Huawei and co-founder of Alibaba, has been absent from the public eye for nearly two months, which is as near to an anomaly as the concept of truth between party bureaucrats, considering the hundreds of millions of high definition facial recognition cameras strategically placed throughout the regime. Coincidences and conspiracy theories aside, the love affair with Chinese manufacturing and cheap labor since the Clinton administration is apparently waning, and the propensity of one of the esteemed US financial institutions is too obtuse to see outside of its elitist shadow, in conjuring the partisan demons beset by old favors and $100 dollar handshakes.
Many on Wall Street view the empty threat by the NYSE, as simply an outgoing courtesy to Trump, but the ramifications are far more serious, than a simple game of “Duck Duck Goose” in the pecuniary playground. “I suspect that the NYSE never wanted to delist these stocks in the first place. They acted on guidance regarding the executive order,” surmised Jeffrey Halley, a senior market analyst entertaining an educated opinion.
As Beijing is clearly responsible for aiding and abetting a global pandemic from the nexus of the central Yangtze hinterland, on a serious front Chinese health officials are still dealing in placebo syringes and platitudes, in claiming that under 100 thousand citizens have been infected through the first calendar year of the politically nightmarish Covid-19 reign. The figures are criminal if not ostentatious in their insufferable sanctimony represented daily on the various Coronavirus meter tabulation apps and websites. The entire “rest of the world” mentality wears more than thin regarding the restrictions terrestrial Americans face in wanting to live a normal life, an insignificant and simple request turned inside out by the lies of Chinese authorities on all levels.
The leeway afforded to corporate-poli fusions aligning with dissident governments and disguised as entrepreneurs, especially during Xi’s tenure is conducive to an implacable campaign set on overwhelming the marketplace and realizing complete control over stewardship suppressing those who actually follow the rules. While the blatant oversight by the NYSE in failing to impose sanctions on Chinese government entities is the anthesis to organic growth of the economy and trust, it is what it is, as far as the standpoint of pathetic wallowing persists from domestic dissidents impervious to sensibility and prosperous times.
A condescending tide pervades with the absence of accountability, but at least for the near future, businesses bereft of morals and operating under illegal pretenses, will no longer be enabled by the soft diplomatic and economic stance of forgettable White House dignitaries.
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Congress.gov link to the Strom Thurmond 1999 National Defense Authorization Act