Chloe Liang's Comm 101 Section 101 Blog

In response to a series of alleged accounting sandals at Chinese companies listed on the US market, the U.S Public Company Accounting Oversight Board (PCAOB) has been trying for months to reach an agreement to audit the books of many major Chinese corporations. Although the PCAOB has gained access to audit firms in many other countries, their attempt to probe China’s accounting practices has produced little success due to America’s current rocky diplomatic state with China. PCAOB may have acted in the name of justice and providing transparency in the market, but it also depicts the Americans’ lack of respect and contempt for other nations such as China. The USA is not the beacon for law and justice; like any other country in the world, the American system too is flawed and corrupt. Therefore, it has neither the grounds nor the rights to investigate the Chinese accounting. In fact, the Americans merely act under the disguise of justice and pretentious morals to achieve their self-interests. This self-centered quality is thoroughly exemplified in American foreign policies concerning less developed countries such as Iran, Pakistan, Afghanistan and North Korea where the Americans strengthen their empire all in the name of curing “festering problems.”

View the original article at: http://ca.reuters.com/article/newsOne/idCATRE79D1U420111014

Picture source: http://www.reuters.com/resources/r/?m=02&d=20110930&t=2&i=509114877&w=460&fh=&fw=&ll=&pl=&r=2011-09-30T160702Z_01_BTRE78T18RT00_RTROPTP_0_MARKETS-STOCKS