Interesting landmarks in China's neighborhood
The bankers made a decision to move the balance of power to the East, led by China. In exchange, China has made some concessions to the bankers pet country? - "Rothschild, the more-than-200-year-old family-controlled banking dynasty, is making a big move in China, and Yu is leading the charge. It plans to add 15 merger advisers there by March, giving it 55 in all, more than any foreign investment bank, says Olivier Pecoux, co-chief executive officer of Rothschild. Today, the merger business in China is still relatively small. So far this year, China has accounted for about 9 percent of the $1.1 trillion in deals around the globe, according to data compiled by Bloomberg. The potential, though, is enormous. China has $2.5 trillion in untapped foreign currency reserves and is mandating that state-owned companies expand abroad to secure natural resources such as oil and metals. "The economic balance of power has already changed, and it is moving to the East," says Yu, whose title is head of greater China. "There will be an increasing number of Western companies selling assets to China.""