Markets are not beginning to reflect US-China decoupling risk

The writer is a researcher at the China Center at Oxford University and the author of "Red Flags: Why Xi's China isin Jeopardy". Investors have received a clear warning about the dichotomy separation between China and the United States over the global capital markets. The plunge in newly listed stocks of US ride-haling group Didi after China launched a security investigation represents a risk. Beijing now wants to curb Chinese companies' access to the US capital markets, if not ultimately banning them. [participate](//www.ft.com/content/fb33b46b-0ea6-42ca-9419-4c4b256974c7) For normal regulatory and disclosure requirements. If they refuse, Washington is equally hostile to the Chinese list….