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China’s Luckin Coffee scandal renews US call for stricter oversight | VOA News
Source: Pixabay by TeamTee, Pixabay License

China’s Luckin Coffee scandal renews US call for stricter oversight | VOA News

US lawmakers consider regulating American investment in Chinese companies after Coffee company Luckin Coffee falsified 310 million dollars in sales. Luckin Coffee is a direct competitor to Seattle based company Starbuck co. This scandal is one that has pushed both parties’ senators to push for the Holding Foreign Companies Accountable Act, which would make it hard for American investors to invest money into Chinese companies without strict regulation and surveillance.

Source: https://www.voanews.com/east-asia-pacific/voa-news-china/chinas-luckin-coffee-scandal-renews-us-call-stricter-oversight

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