Daily Archives: August 12, 2008

John Gapper

It has become so natural to think of Asia economies such as China and India being the new places for business opportunity while western economies struggle that it is easy to miss the way in which this City of London/Wall Street crisis differs from others in the past.

The tendency in the past was for investment banks to pull in towards the centre in the US when markets were troubled. Banks retreated a couple of times in the early 1990s from China during weak periods for the business. Read more