America tries to nobble China’s tech industry. Again

For YEARS regulators in Washington have been trying to gain access to the books of Chinese companies listed in America, to ensure they are in good order. Their counterparts in Beijing have refused, invoking vague national-security considerations. This summer it seemed as though Chinese firms with nearly $1trn-worth of shares traded in America would be forced to delist from American bourses as a result of the stalemate. On December 15th…