“Before, they would stay because they were making a ton of money in China. Now they’re not making as much money. So they’re like, why am I staying again?”
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Chinese IM market insider Luc Lu explains what’s happening in the Chinese market and how international firms should interpret the Wailian case.
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Was the Wailian case really only about capital controls? Assuming so is to engage in “magical thinking,” writes David Lesperance.
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“This financial fracas will sweep up a lot of players,” write Mona Shah and Rebecca Singh, who believe the Wailian arrests are part of a broader effort.
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The boss of one of the world’s biggest IM firms has been arrested, accused of helping clients illegally move over RMB 100 million abroad.
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