Fed clears China's first US bank takeover

Fed clears China's first US bank takeover

ca.news.yahoo.com

The United States on Wednesday opened its banking market to ICBC, China's biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.

The broad expansion of China's footprint in the US market comes amid a series of financial reforms in China that could begin to open the lucrative market to US firms.

"This unprecedented acquisition of a controlling stake in a US commercial bank by a mainland bank is strategically significant," Xinhua quoted ICBC

(visit the link for the full news article)

Just when Obama says he's for same sex marriage.... now this!

China is making moves
They own alot of debt
They have been buying

China buying toll roads, parking meters, municipal buildings, lots of real estate .. now BANKS!

A Chinese Group Plans To Construct A 200 Acre "China City" In Michigan

Unfortunately, this is not just an isolated incident. In fact, Chinese companies have been buying up land and businesses all over the country in recent years. There has even been talk of establishing "special economic zones" inside the United States modeled after the Chinese city of Shenzhen.

endoftheamericandream.com...

So what's going on exactly here?
Seems like really major moves



ca.news.yahoo.com
(visit the link for the full news article)

Already discussed in this post

Fed Cleared....


Check it out

Originally posted by sirric
Already discussed in this post

Fed Cleared....


Check it out

Wow, and I did a search too.....
But I did a few hrs to click submit maybe that's why

reply to post by ModernAcademia


What's going on?

It's called free trade.

Money talks. People should start listening to what it says.

Attention please, this is the Nineties speaking: The Japanese are buying ALL of the US! We are doomed!

Okay, to me it just sounds like the last 300 or so years of the roman empire: Rome was laid waste to every couple of years by some ravaging babarians. No Roman seems to give a *snip*, because they made good money off those barbarians, which cottoned up with the livestyle and spend their bounty very fast.

Result: There still is a Rome. There are no more barbarians, at least not like then..

No worries. Its trade. Money comes, items go. Let them purchase something, who owns the Empire State Building? Who cares?

Mod Note: Profanity/Circumvention Of Censors - Please Review This Link.

Did anyone actually read this article? They are buying a stake in a bank called "The Bank of East Asia" This bank is Hong Kong based and runs branches here in the United States, but is NOT a US Bank as everyone seems to be harping upon. And of course the last time i checked, Hong Kong was an SAR of the Peoples Republic of China...

A small distinction to be sure, but it's not like a Chinese bank is buying up a majority stake in Bank of America or Wells Fargo...

reply to post by ModernAcademia

"This unprecedented acquisition of a controlling stake in a US commercial bank by a mainland bank is strategically significant," Xinhua quoted ICBC

Yeah...in chess, that "strategically significant" move is called "CHECK". China just put the US in check folks, so lets all elect Obama or Romney, make it CHECKMATE, then learn our Mandarin.

A small distinction to be sure, but it's not like a Chinese bank is buying up a majority stake in Bank of America or Wells Fargo...

Yeah, that's not until next quarter....the door has been opened, the welcome mat rolled out, and the invitations sent...

Looks like the same story on this existing large thread.

www.abovetopsecret.com...

What say you?

This is dangeous for us but it is also dangeous for them China has been going around buying up a lot of the world

but that expansion carries an inherent risk of over exposing themselves.

Success expands and contracts to outside forces and the bottom line is how well China deals with that.

Globalization is one of the most stupid ideas i have ever heard we have over exposed ourselves and have dealt with that poorly.