China’s financial opening could be a classic case of be careful what you wish for. Yet, a bevy of hurdles still promise to complicate the efforts of U.S. banks and financial services firms. China is home to the world’s four largest banks by assets, the biggest global fintech company and other formidable competitors. The strength of global firms also lies in their international networks and ability to allow Chinese companies and households to diversify their investments. The Trump administration is looking at restrictions on U.S. investments in Chinese companies and financial markets, a possible new front in the trade war.

Source: Los Angeles Times January 21, 2020 18:56 UTC