No money for Western banks - Victor Shih

Lou Jiwei, the head of China's sovereign investment fund CIC has denied speculation China might invest in Western banks, writes Victor Shih on his weblog.

In remarks to the Clinton Global Initiatives, Lou Jiwei, the head of CIC, said that CIC will not invest further in Western financial institutions in the future due to "uncertainty facing Western banks, and the lack of certainty in the government policies that determine their fate." Also, "due to the lack of continuity in the governments that support Western banks, he has lost confidence."

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Victor Shih is one of the leading specialists on China's financial system and belongs to the China Speakers Bureau. When you are interested in having him as a speaker, do let us know.