Well, that was …odd.
Dunno what really happened, there. Apologies for the mess.
And now the post as it was originally intended to appear:
how soon before they’re “Too Big To Fail”?
The United States on Wednesday opened its banking market to ICBC, China’s biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.
Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.
So that’s what Hillary! was over there for…
The transaction will make ICBC the first Chinese state-controlled bank to acquire retail bank branches in the United States.
ICBC has been the most aggressive of China’s “big four” banks in expanding overseas.
According to the Fed the bank has total assets of roughly $2.5 trillion.
Big ‘uns.
The broad expansion of China’s footprint in the US market comes amid a series of financial reforms in China that could begin to open the lucrative market to US firms.
After the May 3-4 meeting, the US Treasury noted China had made “encouraging progress” on a number of issues sought by the Obama administration, including taking steps toward a more open and market-oriented financial system.
Yeah, hooboy, Teh iWon is fixin’ up Teh ChiComs, now, eh?
*facepalm*
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3 Comments!
I have no doubt there are very many decent Chinese people, and very many more simply concerned with their own selves.
That might even include these bankers.
But they are all owned lock, stock and barrel by the Chinese State, and that ought to make us pause in dealings with them.
It doesn’t, but it ought.
Maybe if we’re very lucky, this will cause the emigration and eventual defection of hundreds of bright young Chinese boys and girls (pretty girls, I hope), to our fair shores.
Lemons, lemonade.
Again, what other language did they speak in “Firefly”?
Again, what other language did they speak in “Firefly”? A fine point.
And in other news, US military drone manufacturing is outsourced to the Iranians. “They’re the ones most familiar with its design, and it will bring us all closer together,” Jay Carney said.