GOOD MORNING FROM LONDON
Wall Street wants more of China. Why?
1. Wall Street does not want to “de-couple”. It does not buy into the argument that China needs to be impeded, restricted, controlled, pushed back. Wall Street does not support Biden.
2. Wall Street views China as a Big Investment Opportunity. The Capitalists see China as a place for profit – a location that can assist their company to grow.
3. Wall Street likes the investment conditions. The country is safe and secure. The living accommodation is the equal of anywhere in the world. Travel is unrestricted – including to Xinjiang. Restaurants are good. Shops offer Western goods. Schools are there for the children. The parks + holidays are always available. Communications are smooth. The downside – too many cars, true of most countries.
4. Wall Street observes China is making efforts to make investment more appropriate to JP Morgan, BlackRock, Goldman Sachs and the rest. China is less rigid + more innovative
5. China has a world view at odds with Washington. Differences exist. But so what? Capitalists are not Communists. They do not go to China to study Marxism but to make money.
6. Capitalists vote with their feet. They move into China because China has a long term perspective. It offers development, enterprise, initiative + profit.
7. China – for so long criticised, wrongly, for being anti-money – has now made the CEO’s of Wall Street realise that the long-term ambitions of China and Foreign Capitalists are in harmony and not in conflict.
8. China remains Socialist and Capitalists remain Capitalist. They can live and work side by side in China. No de-coupling for Wall Street
Tomorrow – 8 July – General Secretary Xi Jinping’s speech to the World Political Parties Summit
