A Chinese company’s accounting lies cost U.S. investors billions. Recovering losses may be hopeless.
Luckin Coffee promotional image.
The Luckin Coffee scandal carries the flavor of a familiar all-American scam: a high-flying Nasdaq stock with a technology hook collapses after accounting fraud is exposed. But Luckin is a Chinese company — and that highlights a unique set of risks too often ignored by U.S. investors.
These risks will make it very hard for the out-of-luck investors to recover significant sums from Luckin, which had been taking on Starbucks in China. Luckin’s shares plunged more than 90 percent after
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After years of planning and investment, robotaxis are finally hitting the road in China. Accidents and the impact of self-driving vehicles on employment remain concerns, but the government remains committed to developing the industry into a global leader.
China’s five-year long property market woes have transformed the sector, but there are signs the government is determined to arrest the slide this year.
The economist explains why local governments’ debt woes are the key to China’s economic issues, and why the country could do with more Taylor Swift concerts.
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