Follow The Money: BlackRock, Vanguard Await New Opportunities In China | WHAT REALLY HAPPENED

Follow The Money: BlackRock, Vanguard Await New Opportunities In China

While the Western world controlled the 20th century, the 21st century could be soon controlled by China.

Six of the world's largest asset managers, including BlackRock and Vanguard, are eager to do more business in China, reported Bloomberg.

Sources said these firms had told regulators they plan to apply for fully-foreign-owned mutual fund licenses after China Securities Regulatory Commission said in Oct., that it would allow overseas institutions more power over onshore ventures in 2020.

Fidelity told Bloomberg via a statement this week that it's preparing to file for a mutual fund license in China.

These big Wall Street banks see nearly $12.8 trillion of investable assets in Chinese households.

Though China's economy is slowing with growth rates crashing to three-decade lows and a trade war with the US with no immediate resolution, Western bankers understand that by 2030, the center of the global economy could be China, not the US.

Webmaster's Commentary: 

That is, of course, is premised on the not necessarily strong supposition, that the US government won't order a war against it, to bomb it back to beyond the stone age, or try to "gum up the works" with some computer/financial sabotage.

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