Why Multinationals Are So Gung Ho

Back when he was in Citibank's Brazil office, Stephen H. Long was puzzled to read that Citi was helping finance a monumental skyscraper in Hong Kong's Central district. It was late 1989, in the wake of the Tiananmen Square bloodbath and a time of deep anxiety over the territory's future under China. Recalls Long: "I thought to myself, `Now that seems awfully risky."'

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