A Chinese company’s accounting lies cost U.S. investors billions. Recovering losses may be hopeless.
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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For much of the past two decades, Europe's luxury market has counted on the ferocious appetite of Chinese consumers to bolster its bottom line. But foreign luxury brands are facing a reckoning in China. Not only is China’s economy entering a more uncertain phase, giving consumers pause, but homegrown designers and labels are also gaining ground. The questions now are which European brands can still rely on China, and how China's domestic designers can capture a share of the pie.
The Treasury’s top international official gives an inside-the-room account of the latest talks between Treasury Secretary Yellen and the Chinese leadership, including the U.S.’s efforts to get Beijing to address overcapacity and economic imbalances, how...
A podcast about how the two nations, once friends, are now foes.
Hear why things are so complicated now. Host Jane Perlez, former New York Times Beijing bureau chief, talks with diplomats, spies, cultural superstars like Yo Yo Ma, and more to understand why the dangers are so high, and why relations went awry.