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Fed clears China's first US bank takeover Options · View
MrNudiePants
Posted: Wednesday, May 09, 2012 9:16:29 PM

Rank: Forum Guru

Joined: 8/10/2009
Posts: 2,219
Location: United States
Quote:
The United States on Wednesday opened its banking market to ICBC, China's biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.

Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.

The transaction will make ICBC the first Chinese state-controlled bank to acquire retail bank branches in the United States.



Link


Some people see this as just another business transaction. Others see it as the first definitive step towards China's dominance of the world's finances. How do you see it?
elitfromnorth
Posted: Thursday, May 10, 2012 5:57:01 AM

Rank: Brawling Berserker

Joined: 2/12/2012
Posts: 1,635
Location: Burrowed, Norway
Doubt you can call it the first step. China has already been investing heavily in Africa, like Sudan, and working on the Middle East. They already have interests in Europe and it's only sensible from an economic perspective that they establish themselves in the Americas. If you want the globalised free market then it goes both ways. You can't go on about how other countries should open their borders for American goods and wares and then refuse Chinese banks to buy themselves in US ones.

It's capitalism in all it's glory, and when the US banks needs aid China will see the opportunity to establish themselves in the world's largest economy. With the growth that China has had the last years it was only a question of time.

"It's at that point you realise Lady Luck is actually a hooker, and you're fresh out of cash."
Guest
Posted: Thursday, May 10, 2012 6:45:35 AM

Rank: Lurker

Joined: 12/1/2006
Posts: 676,024
This is what is called the CURRENCY WARS. Fiat money is worthless paper given value based on faith. It is backed by nothing. Not Gold or Silver. It can be redeemed for nothing. It is only worth what you think it is worth. Please review this video - What is fiat money All paper money is collapsing as we speak. Even China will not stand under this collapse. The answer is to store wealth in real money - Gold or Cash Most Americans will not know what the hell happened and will become violent once faced with the TRUTH. Why? Because they have no idea what is happening right now! The dumbing down of America When comfronted with truth people become very upset at first and make very silly comments like you have made to me in the past. If you want to know the truth about YOUR NAME watch this video for starters. The name on your checks is not you and the line you endorse on is not a line. It is microscopic words. Look for yourself before posting a baseless response. It is an agreement between you, the CEO of the corporation and the BANK. Properly endorsing your check will make the person you wrote it to responsable for payment NOT your corporation and certainly not you the HUMAN BEING! It authorises the entity receiving your check to withdraw the funds from your existing US Treasury account formed at your birth as a bond and traded on the NYSE. Yes, you have a Corporation being traded on the NYSE. Banking is the biggest scam the planet has ever see! PLEASE VIEW ALL THE VIDEOS PROVIDED AND WOULD LOVE TO HEAR SOME EDUCATED AND INFORMED RESPONSES.

THE STORY OF YOUR ENSLAVEMENT

CHINA TO BUILD OWN CITY INSIDE MICHIGAN
Buz
Posted: Thursday, May 10, 2012 6:51:14 AM

Rank: The Linebacker
Moderator

Joined: 3/2/2011
Posts: 7,548
Location: Atlanta, United States
It is definitely a move toward Chinese dominance. The Chinese have a distinct advantage of focusing their move to capitalism under a controlled plan led by an autocratic government.

In China, individuals my own a business, but they do not own the property where it is located. That is owned by the state. Their license or grant to own the business is supplied after petition by the government. If they fail to make a profit with the designated goal (time frame), the government takes the business away from them and gives it to someone else.





Guest
Posted: Thursday, May 10, 2012 7:46:52 AM

Rank: Lurker

Joined: 12/1/2006
Posts: 676,024
well then I guess we should all start learning mandarin because we will soon be China east
Sirene_Jaune
Posted: Thursday, May 10, 2012 7:58:53 AM

Rank: Forum Guru

Joined: 5/6/2011
Posts: 785
Location: In my mind, Australia
They are doing it in Australia too.

China has bought a lot of prime farming land so they can mine. China seems to be on the uprise to over take the world.

Axl - Take a look at our piercing menu.

Daria - I don't think that's how you spell "uvula."

Axl - That's not "uvula."

From: "Daria" episode "Pierce Me"
LadyX
Posted: Thursday, May 10, 2012 9:03:05 AM

Rank: Artistic Tart
Moderator

Joined: 9/25/2009
Posts: 4,813
There's a lot of xenophobia here in the US about China and about the Chinese in general. There's even a sneering tone that people will often use when discussing it:

"I suppose the Chi-NESE will buy our banks up, too."

They're a successful, industrious, and ambitious nation, and it puts people on guard- much the same way that people used to (and in some cases, still do) view the United States, and the United Kingdom before that.

to wit:

Quote:

China seems to be on the uprise to over take the world.


1curiouscat
Posted: Thursday, May 10, 2012 10:10:30 AM

Rank: Forum Guru

Joined: 4/25/2011
Posts: 1,144
Location: São Paulo , Brazil
Its business. They have money in the bank and need to invest it. Of course when we speak of buying banks and investing in countries infrastructure or industries the conversation goes up a level.

I don´t think the Chinese have a plot to take over the world.



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From Across the Room
flytoomuch
Posted: Thursday, May 10, 2012 10:35:28 AM

Rank: Forum Guru

Joined: 2/24/2011
Posts: 315
Location: Fremont, United States
flytoomuch
Posted: Thursday, May 10, 2012 10:36:57 AM

Rank: Forum Guru

Joined: 2/24/2011
Posts: 315
Location: Fremont, United States
Well some of us remember when the Japanese were going to buy the world....they bought Pebble Beach.... Rembrandt paintings.....flashy buildings......now Sony is struggling to stay alive and half the phones are Samsung and the other half are iPhones....oops where's Japan? Things move in cycles. The Chinese have gone through terrible times and tend to be prodigious savers against hard times and very hard and industrious workers. They have a few traits that the Western world would do well to emulate. On the other hand they face significant structural challenges in their economy, not the least of which will be 500 million people over the age of 50 in the very near future as well as serious corruption and inefficiency in many aspects of their economy. No China has enough challenges taking care of itself, let alone "world domination".
WellMadeMale
Posted: Thursday, May 10, 2012 11:55:38 AM

Rank: Constant Gardener

Joined: 9/30/2009
Posts: 10,477
Location: Cakeland, United States
I wish they had purchased Bank of FuckYou America & Citigroup.

The US of A stole a bunch of gold from the Chinese in the early 1930s and handed them some bearer bonds for the total amount. Now...China would like redeem them, and of course, Uncle Sugar is declaring the bonds to be counterfeit.

Cuz that's how we roll.

Most intelligent people are introspective and doubt themselves while many fucktards are proudly over-confident. - a tip of the hat to Charles Bukowski
ArtMan
Posted: Thursday, May 10, 2012 1:23:29 PM

Rank: Forum Guru

Joined: 6/29/2011
Posts: 661
Location: South Florida, United States
The Chinese don't want to take over the world. That wouldn't be a profitable venture. They just want to dominate the world market place and make a lot of money. They have discovered first hand that socialism-communism does not work economically and are venturing into capitalism with great vigor and a new fresh approach. Their government is also a dictatorship which enables them to centralize their financial goals in a more effective manner when dealing with the more chaotic western powers.

You are invited to read Passionate Danger, Part II, a story collaboration by Kim and ArtMan.
http://www.lushstories.com/stories/straight-sex/passionate-danger-part-ii.aspx

Rembacher
Posted: Thursday, May 10, 2012 5:40:20 PM

Rank: Forum Guru

Joined: 10/16/2008
Posts: 1,107
It's one Asian based bank buying a subsidiary of another Asian based bank. If you are going to get upset at all, the time to do it would have been when you allowed Bank of East Asia to open a subsidiary.
Guest
Posted: Friday, May 11, 2012 5:10:26 AM

Rank: Lurker

Joined: 12/1/2006
Posts: 676,024
NudistRob wrote:
This is what is called the CURRENCY WARS. Fiat money is worthless paper given value based on faith. It is backed by nothing. Not Gold or Silver. It can be redeemed for nothing. It is only worth what you think it is worth. Please review this video - What is fiat money All paper money is collapsing as we speak. Even China will not stand under this collapse. The answer is to store wealth in real money - Gold or Cash Most Americans will not know what the hell happened and will become violent once faced with the TRUTH. Why? Because they have no idea what is happening right now! The dumbing down of America When comfronted with truth people become very upset at first and make very silly comments like you have made to me in the past. If you want to know the truth about YOUR NAME watch this video for starters. The name on your checks is not you and the line you endorse on is not a line. It is microscopic words. Look for yourself before posting a baseless response. It is an agreement between you, the CEO of the corporation and the BANK. Properly endorsing your check will make the person you wrote it to responsable for payment NOT your corporation and certainly not you the HUMAN BEING! It authorises the entity receiving your check to withdraw the funds from your existing US Treasury account formed at your birth as a bond and traded on the NYSE. Yes, you have a Corporation being traded on the NYSE. Banking is the biggest scam the planet has ever see! PLEASE VIEW ALL THE VIDEOS PROVIDED AND WOULD LOVE TO HEAR SOME EDUCATED AND INFORMED RESPONSES.

THE STORY OF YOUR ENSLAVEMENT

CHINA TO BUILD OWN CITY INSIDE MICHIGAN


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elitfromnorth
Posted: Friday, May 11, 2012 6:11:30 AM

Rank: Brawling Berserker

Joined: 2/12/2012
Posts: 1,635
Location: Burrowed, Norway
China can do a lot by just using the same governance they have now; dictatorship. It will allow them to strike down on workers much more efficiently than what any western democracy. The working class is a powerful force, but when faced with a ruthless government that is more than keen on keeping status quo then they're pretty much screwed. Add the millions of people living in the rural areas that would love if a factory came to their area you can keep the costs down. The only thing they have to worry about are foreign customers who gives a damn about human rights before caring about profits. Usually most companies are willing to turn two blind eyes to bad environment as long as profits increase.

"It's at that point you realise Lady Luck is actually a hooker, and you're fresh out of cash."
Guest
Posted: Tuesday, June 05, 2012 4:15:12 AM

Rank: Lurker

Joined: 12/1/2006
Posts: 676,024
The Chinese have waited for centuries to dominate. Now IS their time, and we have given them the tools to do such.
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