“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?”
Chinese IM market insider Luc Lu explains what’s happening in the Chinese market and how international firms should interpret the Wailian case.
Was the Wailian case really only about capital controls? Assuming so is to engage in “magical thinking,” writes David Lesperance.
“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.
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.
