Why China’s Investment Bankers Are Breaking Up With Capitalism | Big Take Asia

One after another, bankers at China International Capital Corporation - China’s premier investment bank - are pledging loyalty to the Communist Party, underscoring a new reality for Wall Street-style capitalists in the era of Xi Jinping.
Today on The Big Take Asia, host David Gura speaks with Bloomberg’s Cathy Chan about the tug-of-war between communism and capitalism at the “Morgan Stanley of China,” and how politics are redefining Chinese finance.
#China #Asia #Finance #Capitalism #Communism
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[@stevebeschakis9775]

Could be a smart move. After all, we've allowed the financial sector to purchase the government in the US, and you can see how that's worked out.

[@davidlai399]

Don’t worry about China does wrong (Western media obsession), but worry about what it is doing right (e.g. becoming world’s largest auto exporter overnight); it has the talent pool and efficient deployment of resources. If one really thinks China cannot do anything right, then what’s with all the fuss?

[@olderchin1558]

Agreed. But efficient of deployment of resource is not necessarily the main objective in a world of economic sanctions and demonization.

[@davidlai399]

@@olderchin1558 of course it is. Look at the money being channeled towards silicon development.

[@olderchin1558]

@@davidlai399 If you do some research on China's investment and it's success in chips tech, you will find that China really lost a lot of resources in failed investments and con jobs. Yet, China persist and now only because of sanctions and bans Chinese chip tech is taking off. Not efficient but definitely strategic.

[@voidvector]

@@davidlai399 There are a lot of wasted money early on. There was an article in English in 2021 by Technode analyzing the salary increases of Chinese chips industry on Chinese job boards. Most of the increases are in chip design not chip manufacturing. China is not really behind the west in design, so all that money just get pocketed by people already in the industry.

[@davidlai399]

@@voidvector can’t necessarily call it wasted. They will throw everything at the wall and see what sticks. The scaling up part afterwards will make it all worth it. China’s talent isn’t at arriving first, but nobody can compete with scaling up and monopolising entire industries.

[@thomasrogers9146]

WE AMERICANS ARE OBSESSED WITH IDEOLOGY. EMPTY WORDS LIKE LIKE DEMOCRACY FREEDOM AND CAPITALISM IS MEANINGLESS WHEN OUR CITIZENS ARE SUFFERING UNDER CRUSHING POVERTY AND DECLINING STANDARD OF LIVING..THE CHINESE ARE FOCUSED ON OUT COME AND IMPROVEMENT OF THE STANDARD OF LIVING FOR THEIR CITIZENS NOT EMPTY IDEOLOGICAL FUNDAMENTALISM WITH DISMAL RESULTS.

[@peterl545]

Not sure what an investment banker does without access to capital markets.

[@realdemocracy11]

This is a time will tell issue'

[@roro4787]

It's not China's problem, China is still active for collaboration and welcomes foreign investment and talent. Europians and other countries are using this opportunity, its just the US thats not allowing Chinese capital and not allowing US companies its investment in China. So i suggest look into the mirror

[@kienwenchang7108]

Big Economies need US-Stocks. Canada economy is also big. US-Stocks Self-Direct Investing. ASEAN thanks Indonesia. 南洋十大！

[@back2basics597]

I would never again deal with anyone who stole money from someone or from me. There is no coming back from that. Comprende?

[@roro4787]

Bloomberg Propaganda 😂😂😂

[@SSYlist]

Common poverty 😅

[@Western_Decline]

G7 countries countries are undergoing massive political upheaval due to “liberal democracy” and “unfettered capitalism”. Enjoy 🤡

[@ischnegg7928]

Yes the WHOLE WORLD is rushing to share in the abject poverty that allows China dominate manufacturing and infrastructure.hahahadont worry tho,PNAC still want YOU