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I will be spending quite a bit of my time in Dalian, China …

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Dalian, China
Image by Elizabeth Thomsen via Flickr

during the next few years, should my fate to remain healthy and active continue on the course I’ve known during the last 73 years. I liked the experience of living and working in Dalian in 2005. And I look forward with a nicely developing sense of exhilaration to returning there in a few weeks time.

China has and is going through lotsa change, without taking anything away from Obama’s plans for the US Presidency. So I guess I could only feel positive when I read this morning that the Bank of China expects to buy a 20% equity interest in a Rothschild bank:

HONG KONG — Bank of China has set an extended March 31 deadline to complete its proposed €236 million ($326.9 million) purchase of a 20% stake in French private bank La Compagnie Financiere Edmond de Rothschild, according to a person familiar with the parties’ agreement.

Last week, the fate of the deal, first announced in mid-September, was thrown into question after the original New Year’s Eve deadline passed without a word from Chinese authorities, who must sign off. It comes amid concerns that Chinese officials have become wary …

The good news is that Chinese bankers are now “wary” of real valuations of interests in Western banks. I wonder what the spirit of the old long dead Rothschild banking ancestor feels when it considers whether or not the Chinese have reasons to be “wary”. And then for that matter, what would the spirit of Mao Zedong feel about the socialist meaning of owning a interest in a Rothschild banking venture?

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Written by BobG in Dalian & Vancouver

2009/01/04 at 09:49

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  1. […] I will be spending quite a bit of my time in Dalian, China … […]

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