Icbc - Std Bank Part 2

[Dipoots]

Hi,

Thought that it would be better to start a new thread rather than to respond the the earlier one...

I do not proffer new theories, anecdotes, or even insinuations (that the Chinese will take over the world-type....) but to provide another way to look at things

Firstly, with things as it is in Argentina.... Any new investments into the country should be welcomed. The Std Bank deal was first broached in 2011, in better times,.... only approved late 2012. I am not sure if ICBC has had any second thoughts....

Secondly, I would think ICBC would be a much more stable employer than HSBC or any of the wall street banks (for example). I do not think (I do not know for a fact) that they are less likely to fire.... even to the point of inefficiency... So likely to have more stable employment for locals.

Next with the growth of the Chinese economy, it would perhaps be a blessing for the talented Argentines working in ICBC... now they have the chance to be exposed to one of the most importantly market in the world. If that person can speak Mandarin (along with English and Spanish), that person will be in hot demand!!! I know of some senior executives in other companies trying hard to hire a local Argentine of Chinese descent who can speak 3 languages fluently.... In fact, I have thought about trying to hire the son or daughter of the owner of one of the Chinese restaurants that I frequent in Barrio Chino. The business knowledge is not as important as the capacity and attitude to learn and having demonstrated the ability to be fluent in 3 language is proof enough. So working for ICBC may give Argentines more global options in the future than a local bank or institution...

Thirdly but similar to the earlier point, given the amount of capital that the Chinese are trying to redeploy globally (instead of investing in Treasury bills). Expansion is more likely. Also, the Chinese have a more long term mindset than the quarter to quarter reporting mindset of some Western firms. In other words, ICBC probably have more staying power compared to Std Bank... (i am conjecturing...)

In all the above viewpoints, I have not done much research, only googling for a few minutes before my attention was distracted. So I am quite likely to be wrong...

 

[El Cipayo]

The Chinese are already in Argentina and highly organized(most visable chinos) in Argentina. Infrastructure is another area where they are big.

Getting there own bank will help them deepen there organisation and with the economic and diplomatic power of china it's not very likely Argentina have much bargain power

Most Chinese companies mostly work with Chinese mid and higher management and with the lax immigration laws(a.k.a. Corruption) laws and Chinese residents in Argentina it shouldn't be too hard to archive

 

[Iznogud]

And so does the trolling resumes on this thread as well...

 

[El Cipayo]

Diego lee, born in china, dual citizen from Argentina and china has 4 Argentine children, chines argentine wife, mom, dad, sister, and parents in law living in china

He owns a small chino in Ramos mejia.

He has a bank account in lcbc bank in Argentina and china and because has some savings in china he can get a loan at preferiental rate(let's say 15% yearly) to pay for his day-to-day operations and lcbc Argentina gives him advice how he can legally transfer money out of the cointry(sending it to his family members, maxing out his credit cards abroad, etc) the rest of the profits he changes to dollars and takes them with him(or his family members) abroad and transfers them to his Chinese account

How is this practice illegal? How can bcra stop this and how is this not easier with a Chinese owned bank?

 

[El Cipayo]

Having a Chinese owned bank in Argentina will Probally also help you transfer dollars to let's say Uruguay and pick them up there

 

[Inferno.]

Having a Chinese owned bank in Argentina will Probally also help you transfer dollars to let's say Uruguay and pick them up there

Again? NO. Banks in Argentina need to follow up BCRA normatives. Period. Today, clients of banks in argentina (IT DOESN'T MATTER WHO OWNS IT) can not make international transfers nor buy dollars just because they want to. If you have an account in Brasil, Uruguay, New Zeland, congratulations, but you can not make a transfer from one account in argentina to those there even if is the same bank. Standard Bank has branches in the US, Citibank too, HSBC too, and they are unable to move money EVEN if you have an account in both countries at the same bank. They act as individual institutions because they depend on the central bank of the country that they are in. It isn't hard to understand.

Did you fell on your head as a kid or something similar? Now you are ruining another thread.

 

[El Cipayo]

You don't transfer to argentina

 

[Iznogud]

Cipayo, you started your own Icbc thread already. Mind sticking to it and let others have their own or is it a must that you have the last word?
Note that everything you've volunteered so far is nothing but speculation and that you've changed direction every time facts were requested or offered.

I'd be very interested in following a thread that is a free exchange of points of views and opinions and not played like you own the ball. Pretty please.

 

[mariposa]

El Cipayo

Your "post" to like" ratio speaks for itself. Please go away.

 

[El Cipayo]

What are you talking about?