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...
