Why China’s Investment Bankers Are Breaking Up With Capitalism
Big Take Asia
Evolution of CICC and its Recent Shift to Socialist Ideals
The chapter explores how CICC, once a Westernized investment bank supported by Morgan Stanley, has transitioned to embracing socialist principles with a significant number of employees joining the Communist Party. This shift raises concerns about the bank's alignment with China's political ideologies and its impact on global investors' perceptions of the country's business environment.
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