George Mentz: It’s ‘China first’ whether it’s COVID or a stock market listing

In 2020 I wrote that the coronavirus pandemic is the worst thing that has ever happened. past in the USA from Pearl Harbor. President Trump actually echoed my sentiments during this catastrophic time. Moreover, nations around the world have waged war against a pandemic unlike any disaster dealt with before. Millions of people have lost their jobs, homes, pensions, health care and more.

I wrote this article in 2020, but never published it, because I am against lawsuits, but I anticipate future COVID-19 related lawsuits. The plaintiffs’ US attorneys could eventually try to prove their case, scientific and negligence to any person at fault for failure to mitigate risk, injury and death.

The delisting of Chinese stocks from the New York Stock Exchange (and other exchanges) may be intentional, due to lessons learned; most people don’t know that Chinese companies listed on US stock exchanges are among the largest in the world and are “state-owned” or government owned. Thus, any company “listed on the stock exchangePerhaps exposed to lawsuits and class action lawsuits around the world.

In 2020, I noticed a trend of delisting some Chinese stocks from stock exchanges, and now, in 2022, my suspicions have been confirmed. While some may argue that Chinese companies are tired of trying to comply with US securities and compliance laws, I tend to believe that the Chinese government wants to have a “first Chinese stock market”, create its own independent sustainability, manage its stock markets in-house, and avoid US and European regulations and lawsuits.

The NYSE’s decision to take major Chinese stocks off the exchange ostensibly provides another legal protection for China aside from COVID-19-related lawsuits.

China first

Most people don’t know this, but China has had a “Reagan-style” “China first” policy since Trump took office in 2017. As a result, China has had a desire to be a self-sufficient nation that meets all needs internally or gets what it needs through dominant acquisition outside of China. If you look back China was even under pressure to cancel loans to many countries during the pandemic, but this problem has actually led China to take the opposite route, capturing more assets, land and farms, all when debtors have defaulted.

If China is ever civilly attacked in a COVID pandemic-related fault lawsuit, lawyers will demand reparations for widows and orphans, including billions in hospital debts, etc. American allies in the UK, Spain, Germany and Italy, etc. suffered a lot, also with hundreds of thousands of deaths. Thus, the loss, legal damages and costs are a global issue beyond the emotions of US citizens alone.

Remember, this is the first time since 2001, following the terrorist attacks of 9/11 that a president and a nation have been forced to face an international hazard and peril that greatly affects our economy.

In addition, harm has created a host of new preventative costs for consumers, much like 9/11.e the attacks created TSA and other costs. As for the total damage, millions of people have been infected and more than a million in the United States have died alone, with the majority of deaths occurring after Trump’s departure. In 2022, we don’t know how many strains will erupt or evolve, but some sort of immunity may have been created over the past 2 years.

If the travel ban hadn’t been implemented by President Trump on January 31st, some experts estimate there may have been as many as 2-5 million deaths in 2020. For weeks, anti-Trump resistance to travel bans included: Pelosi, Obama, Cuomo and Democrats in Congress who stood up fought against travel limitations in New York, Boston, Philadelphia and New Jersey. Just 8 weeks later, NY, MA, NJ and PA had over 50% of the total US deaths. Then the pandemic spread from the northeast to Chicago, the Midwest and the rest of the United States.

This is arguably the worst crisis that has ever been inflicted on an American president by far. Millions of people have lost their jobs, their pensions, their health care, while others have lost their loved ones, parents, homes, tenancies, apartments and possessions. While many states have bounced back a little faster using common-sense safety standards, governors who haven’t let their citizens back to work have done lasting damage, even hurting potential Social Security benefits. working families by reducing the number of quarters required for retirement benefits.

Strangely, anti-Trump politicians wouldn’t even give liability protections to workers including: small businesses, teachers, nurses, flight attendants, and peace officers.

Invisible enemy attacks

After the 9/11 attacks, President George W. Bush’s job approval skyrocketed in part because we were attacked by a foreign and somewhat invisible enemy and not by a sovereign country or nation. . With COVID 19, we have again been attacked by foreign forces where no country or individual has yet been directly blamed, unless legal action prevails against the accused.

Remember that hundreds of thousands of Americans have lost loved ones to a pandemic that could have been mitigated if the World Health Organization (WHO) and other offshore bureaucrats had not downplayed travel restrictions and the epidemic.

That being said, there are hundreds of thousands of Americans with the legal capacity to join in legal action against the WHO or companies that have brought infected people to the United States. “But for” the actions and inactions of a few government and NGO leaders, this deadly evil might not have exploded in the EU and the US.

As a note to overseas readers and analysts, it would have been wise for those apparently responsible for the spread of COVID to set up a victim relief fund rather than go to court. In the United States, civil cases only require a preponderance of proof which is only 51% fault. Comparative negligence can also be applied to defendants. In contrast, criminal cases require a “beyond reasonable doubt” standard, which is a standard of proof of something like 90% or more. So, proving negligence in a civil case that only requires showing 51% guilt may not be that difficult.

In the United States, we have seen successful “class action” lawsuits against foreign companies that have benefited from harm or injury inflicted on others in the past. We have seen legal settlements between survivors and victims in the United States and large corporations overseas. We have even seen Congressional legislation granting tax relief to victims of injuries resulting from catastrophic damage also in the “Holocaust Reparations Act”. So the legal doors may or may not open soon for the victims of this international catastrophe, but it seems that Chinese companies want to leave the United States and avoid the possibility of lawsuits or securities class actions against state enterprises.

All in all, we may soon see a flood of ‘long Covid’ disability claims and perhaps test lawsuits against other entities, but applying comparative fault would eventually become the job of the judge and the jury.

Additionally, investors in the future may be required to buy ETFs that hold Chinese stocks, as most, if not all, of these companies and stocks will no longer be listed in the United States.
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George Mentz JD MBA CILS is CWM Chartered Wealth Manager ®, Global Speaker – Educator, Tax Economist, International Lawyer and CEO of GAFM Global Academy of Finance & Management ®. GAFM is an ESQ EU accredited graduate body that provides certification training in over 150 countries to ISO 21001 and ISO 9001 standards. Mentz is also an award-winning author and certified law professor in wealth management in the United States. .

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