The Chicago Stock Exchange wants to sell itself to Chongqing Casin Enterprise Group, a Chinese conglomerate whose parent is CHX Holdings Inc. Never mind that this would be a camel’s nose of the People’s Republic of China into our financial system and expose it to PRC hacking, disruption, theft, etc, etc, etc.
Fortunately, a collection of Congressmen persuaded the SEC to indefinitely delay the sale and purchase. Unfortunately, the deal hasn’t been killed altogether.
Casin…says it is independent of the Chinese government.
Of course it is. In a nation that is increasing its autocratic control over its economy and the businesses in it. Sure.
Contra such blandishments, there aren’t any businesses in the PRC that aren’t under government control, whether those businesses are owned by the government or the CPC or operate outside formal ownership: mainland Chinese businesses have government apparatchiks, “advisors,” and CPC monitors in their management staffs.
CHX…says its policies will prevent confidential data from being shared with the new Chinese owners.
And we believe them. In a nation that rules by law instead of being a nation under rule of law, a nation that changes its laws for the convenience of those persons in power, CHX would never alter—or simply ignore—”policy;” it would never steal confidential data.
No, not a good idea. Not this time. Not this buyer. Not a good idea at all.