Commentary Beijing’s decisions last month cost American investors a lot of money. Regulatory moves against Chinese companies that have recently listed shares on American exchanges have all but shut down the burgeoning market for such listings. They have also sliced deeply into the value of those companies that had already been listed. On the surface, the moves would seem to be against China’s interests. The flow of American money from Chinese companies listing in the United States through American depository receipts (ADRs) offered China a great source of financing for growth and development. But as the Chinese Communist Party (CCP) has proved repeatedly, it values secrecy and control over just about everything else, including economic growth and wealth. However welcome the dollar flow was, it demanded disclosures on the state of Chinese business that the country’s leadership could not tolerate and further gave too much control to American regulators and …