Is the ability to offer an IPO in the United States good for the Chinese economy? Is it good for the American economy? In late 2020, then-President Trump signed an executive order that banned Americans from investing in companies that were connected to the Chinese military. In response, the New York Stock Exchange said it would delist three large Chinese telecommunications service providers: China Telecom Corp. Limited, China Mobile Limited, and China Unicom Hong Kong Limited. How do you think this action will impact Chinese IPOs on American stock exchanges going forward? What are the implications for the efficiency of the global capital market?