The US President's Working Group on Financial Markets is often referred to as the 'Plunge Protection Team'.
The Group has issued a report making five recommendations to address risks to investors in U.S. financial markets posed by the Chinese government's failure to allow audit firms that are registered with the Public Company Accounting Oversight Board (PCAOB) to comply with U.S. securities laws and investor protection requirements.
I bolded the pertinent US-China relations words … no love lost at present as strains continue to mount.
In a nutshell the Working Group is recommending Chinese companies currently listed on US exchanges be compliant with US accounting standards … or be delisted.
The report is dry but if you are interested in more, link from here.
