The epic process of China "going global" has been underway for over a decade, but the events of late July 2007 may well be its defining moment. The stake in Barclays bank purchased by the China Development Bank - one of Beijing's state-owned "policy banks" - is significant in itself, but it also represents a high-profile reversal of the dominant perception of China's international economic role.
This surprised me. Not that I've been following news in financial dailies but I haven't come across this news item generally in the UK. A lot about the proposed merger with Dutch Bank ABN Amro. Wonder why, considering it is one of the largest banks in the country?
You're in Easy Mode. If you prefer, you can use XHTML Mode instead. |