TS FELT felt almost embarrassed to read US regulator the PCAOB’s report of a recent meeting with its Chinese counterpart. Like a boy at a disco who didn’t get kissed, the PCAOB bigged up the encounter with honeyed words of “mutual trust” and “cross-border cooperation”.
TS’ impression is that China isn’t the least bit interested in getting up close and personal with the US, giving no clue as to its own oversight practices and remaining non-committal when the PCAOB asked it for a rendezvous State-side.
The “candid discussions” were all from the US’s heart and the PCAOB is hoping to learn more about China’s oversight “through future exchanges”, but so far there are no plans for a second date.