Economics
China Gave Trump a Win on Trade and He Didn’t Even Know It
- Chinese make move to allow more foreign investment in banks
- Move is like what Trump was seeking but China didn’t tell him
Foreign Bank Ownership Is Years Away, Says Hao Hong
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American and other securities firms scored what looks like a big win Friday when China announced new rules allowing them to own 51 percent stakes in joint ventures. It’s just the sort of market-opening move President Donald Trump was seeking on his first trip as president to Beijing.
Except Trump didn’t know it was coming.