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Trade war sucks in US-listed Chinese stocks

Murky accounting and at-risk pensions give critics plenty of ammunition

HONG KONG -- The gory details of China's stock market scandals are beloved by the financial media. Who could resist a story in which a company, Kangmei Pharmaceutical, blames an "accounting error" for overstating its cash holdings by as much as $4 billion? And who could stifle a snigger when another Chinese company, China Animal Healthcare, claimed that five years of accounts were lost when a truck carrying them was stolen?

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