(China Alert) Brexit: If you’re going through hell, keep going
-London is unlikely to lose its premier RMB hub status
-Inroads made by UK firms onshore shouldn’t be unwound
Update: What will the Brexit mean for investment management in China? To be clear, Z-Ben Advisors acknowledges that this event will continue to impact the global financial system for at least the next few years and, more specifically, the dearth of uncertainty on the horizon. We offer our general expectations based on our understanding of competitive dynamics among foreign firms and the Mainland’s trajectory. China is likely now in the periphery for most global firms. While understandable, such an approach may not be wise. Developments centering on the domestic market opening and global RMB investment will continue and, despite more pressing issues at home, we believe global firms can’t afford to take their hands off the steering wheel in China.
Dealing with the Brexit fallout will, and should, be a primary focus in the short term. However, the dilemma is…
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