The US Federal Reserve said Monday it had authorized China Construction Bank, a leading Chinese state bank, to operate in the United States.The proposed New York City branch of CCB "would engage in wholesale deposit-taking, lending, trade finance, and other banking services," the Fed said in a statement.
Why not? China already owns a large portion of US debt. Maybe they'll actually make the loans that the U.S. banks were supposedly going to do when they got their bailouts.
I’m old enough to remember clearly being threatened as an elementary school student that the Russians were devious and evil, and that if we weren’t careful and vigilant, we would all “wake up one morning Communists.” (Which is actually all I remember of the Cuban Missile Crisis days.) Perhaps they just had the wrong country in focus.
....but hey, do what you want....you will anyway.
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