Global banks

Can you be a global bank with no Chinese operations? Today, yes. Tomorrow, ???. So take a shot or two at getting in. It’s a risky business but they probably think they have to try, at least the conventional wisdom says you have to try. Time will tell, as the conventional wisdom used to say you needed to be an internet business. Disney put money into Go.com and Time Warner ate the sour AOL apple. Thinking about the internet changed, quickly. China has a LONG way to go to have a market like ours, so only time will tell if now is the right time, and if Citigroup and others made the right deal.

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