Easier entry into China
FOR GLOBAL investment banks, the long wait for a more level playing field in China is finally drawing to a close. China has detailed a timeline to further open parts of its financial sector by June 30, easing concern that the historic move would be derailed by escalating trade tensions amid U.S. President Donald Trump’s threat to impose more tariffs. Additional easing, like giving foreign securities firms freer rein to enter new businesses, will follow by year’s end.
Global investment banks have long been sidelined in one of the world’s fastestgrowing financial markets, where caps on ownership of local joint ventures have stymied their expansion.
Among changes to be implemented by June 30 is allowing foreign firms to take majority stakes in local joint ventures -Washington Post policy year.
Given how many countries have an interest in maintaining a cooperative game, such policy actions are not just desirable; they may be feasible. As they help to create a stronger cooperative foundation for fairer trade, these measures would also constitute a necessary (though not sufficient) step toward countering the alienation and marginalisation of certain segments of the population in both advanced and emerging economies. continuity from year to
“The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse.”