This is spinninng faster than a revolving door, and with about as much control.
The New York Stock exchange is reported to be reconsidering (Update: has U-turned on) its decision not to proceed with the delisting of three state-owned telcos, China Mobile, China Telecom and China Unicom HK that it announced last Thursday.
This follows a rebuking telephone call from US Treasury Secretary Steven Mnuchin to NYSE president, Stacey Cunningham. The White House, apparently, was as caught unawares by the exchange’s sudden reversal as everyone else.
The NYSE is now reportedly awaiting clarification from the US government about who and what exactly was banned by US President Donald Trump’s executive order in November that stops US investors holding stakes in companies with alleged ties to the Chinese military. The order is due to come into effect on January 11, nine days before he leaves office.
The whole back-and-forth seems to encapsulate the chaos over the United States’ China policy in the final days of the Trump administration.