Chinese companies do not deserve to be listed on U.S. stock exchanges if they don’t adhere to the same standards as every American company, said hedge fund manager and Hayman Capital Management founder Kyle Bass.
With about $1 trillion of American capital moving into China by 2021 and around $2 trillion worth of Chinese entities listed in the U.S., Bass said the U.S. needs to crack down on the “insane” nature of U.S.-China business standards.
“Imagine what kind of fraud is behind these companies,” Bass told CNBC’s “Squawk on the Street” on Monday. “All of the U.S. money that goes into Chinese companies, it goes into companies that don’t operate under a rule of law.”
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