Chinese financial sector will cooperate with United States

by Nina Gotzmannova

Nothing can surprise more than an unexpected financial operation of great worth. One of them is recently announced cooperation and co-investment of U. S. company Bear Stearns Cos. and Chinese Citic Securities Co. Citic is controlled by Chinese government, and despite this "imperialistic invasion" is China still communistic country. What reminds one of the rules of communism & not to trust any of the capitalistic countries!Bear Sterns is one of the largest global investment banks and securities trading firms in the world. Citic is Chinese investment company and these two financial giant decided to join together. They will invest a whole $ 1 billion in each other and make some business in China together. This is the first time U. S. company made such a big investment with a Chinese firm together. The result of their cooperation is to bring some new financial products and services to Chinese market. China has fast developing economy and this step may be for them really important. But there may be another reason why Bear Stearns decided for this alliance. In the third quarter they noticed a 62 percent crash of their earnings. But Chinese financial sector had faced some difficulties in the past. After being not able to solve it by themselves Chinese officials allows U. S. bankers to step into the financial market and connect U. S. banks with Chinese ones. Sometimes is the capitalistic country not an evil enemy, who tries to destroy the wonderful communistic economy, and sometimes are the financial intentions more important than the official state philosophy!

related story: http://news.yahoo.com/s/ap/20071022/ap_on_bi_ge/bear_stearns_partnership;_ylt=At5P3XJQXZzrpE14fDAGOWqs0NUE

by Nina Gotzmannova for PocketNews (http://pocketnews.tv)

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