There are some real nuggets in todays article from the FT headed “Beijing and Wall Street deepen ties despite geopolitical rivalry“. No talk here of “decoupling” – the proud but very unsuccessful boast of the Henry Jackson Society. They are on the wrong side of history. And so are Tugenhadt, Duncan-Smith, and Pompeo.
The China-US financial forum convened on 16 October against a background of growing US-China financial links. Foreign investors now account for approx 12% of Chinese government bonds purchased in 2020. As one expert says “Money is starting to pour into China because they are looking for that income… the Chinese have opened up and you’ve got the rest of the world in dire straits.”
Black Rock, Citigroup and JP Morgan Chase have all expanded their business in US in recent months. Politicians Pontificate. Businessmen Act
What does this mean? What are the lessons?
