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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In 2021, after four decades of exponential growth in China’s economy, Xi Jinping revived the party slogan “common prosperity” in order to address the country’s glaring inequality. The policy priority was suddenly everywhere: in speeches, in newspapers and in schools. But now, three years later, it has all but disappeared from public discourse even as the country’s economic inequality festers. What happened?
The researcher and former OpenAI board member discusses who holds the advantage in artificial intelligence and the chances of the U.S. and China working together to regulate the technology.
On-Demand Webinar: Strategies for Identifying Military End Users
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