Wall Street does not follow Trump in its policy toward China. Like the big groups, the financial institutions like globalization, even if it means letting de-industrialization impose itself in their own country. What has happened recently?
Finance is settling in
China continues to open its market; American Express and Master Card have taken advantage of this to enter the market.
The State Administration of Foreign Exchange (SAFE) reported in June that foreign companies had invested $ 200 billion over the past 12 months.
At the end of September, the FTSE Russel indicated that Chinese treasury bills would integrate their indices. Beijing estimates a capital flow of 1200/1500 billion dollars.
U.S. financial institutions how to set up. JP Morgan has just signed a lease for 10,000 sq. m. premises in Shanghai’s business district, Lujiazui. Morgan Stanley is expanding its offices and large management funds are following.
Wall Street prefers to bet on the still young Chinese market’s size, rather than on American politics. Has Trump lost a battle – before the elections?
The American government has long bet on the Chinese market, thinking that economic opening would be accompanied by political liberalization. While some parts of the economy resembled more unbridled capitalism, politics made small concessions. China was the big winner, and there is more to come. The Chinese government has been able to maneuver while we can talk about the United States’ lost bet.
Let’s not dream! The most exciting and remunerative sectors are still reserved for Chinese companies (see the article)? When will there be a real opening?
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27 October 2020