Standard Bank & China
Posted by Grant Brewer
The Business Day is carrying an article about the news "that China’s biggest bank, Industrial and Commercial Bank of China, has agreed to buy a stake in Standard Bank, in a deal reported to be worth $5,5bn." That is very interesting news for South Africa and perhaps an indicator of what we might expect in the future as the economic centre of gravity shifts from the US (and western Europe) to the East.
Something that struck me when working Sri Lanka was that young people there were very entrepreneurial, but that they focus was almost entirely on the market opportunities in China and India rather than on the west. There is something there that South African's could learn from: don't forget to look toward the east!
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china (4) | globalisation (3) | standard bank (1) | sri lanka (1) | competitiveness (1)