Examiner
China has been using its dollar reserves over the past few years to purchase infrastructure, energy, and raw materials throughout the world. Now they appear to be entering into ownership of financial institutions, and their first port of call is the United States.
Just as China's President Hu Jintao was spending a week visiting the white house, one of his countries largest banks was signing agreements to purchase a majority share of the US branch of the Bank of East Asia. This purchase will give China a foothold into the American banking system, and potentially receive some of the benefits given to institutions on American soil...
[Full Article]Related Article:
China Bank Moves to Buy U.S. Branches [Wall Street Journal]
