BNN Bloomberg: Global banks are quietly cutting China jobs as big bang fizzles

 

Christopher Marquis, Sinyi professor of Chinese management at Cambridge Judge Business School and author of the book ‘Mao and Markets.’ Is featured in this article about China jobs at global banks being quietly.

China’s financial opening that kicked off three years ago was supposed to be the biggest banking play of a lifetime. It’s now at risk of foundering as a slump in deals and growing political tension force global banks to recalibrate their plans, the article says.

“It’s clear China can switch direction and crack down quickly as has been shown in many industries in recent years,” says Christopher.

“Particularly banking is tied to general national security, which has really been shown in recent years to be the dominant logic of Xi, above and beyond economic growth.” he says.

Read the full article [bnnbloomberg.ca]