Word: ulriches
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...Chinese officials hope he's right, because the country's policy options are limited. A rate hike would likely only increase the flow of speculative "hot money" into the country from abroad, says Jing Ulrich, chairman of China equities at JP Morgan. And excess liquidity (read: too much money chasing too few goods) is at least partly to blame for China's rising-prices problem. Although some say the July spike was due to short-term food shortages, the increases "are a lot less temporary than some people think," argues Michael Pettis, a professor of finance at Peking University. "China...
...went public (an investment that so far is more than $300 million under water). This and the CDB stake in Barclays are the most high-profile foreign investments China has made since the oil firm CNOOC tried and failed to buy U.S. oil company Unocal in 2005. Says Jing Ulrich, JPMorgan's Hong Kong--based head of China equities: "China has a wall of money--a tsunami, really--that is about to hit the rest of the world. In terms of global capital markets, there is just nothing happening that's bigger than this right now." Indeed, JPMorgan figures that...
...they went on their foreign-spending spree in the late 1980s. The Japanese not only met xenophobic public opposition in the U.S. but also in several instances vastly overpaid for glamorous properties, like Rockefeller Center. "I don't expect China to go in for trophy properties," says JPMorgan's Ulrich. "They know the lesson of the Japanese debacle." That said, she concedes, the odds are that Chinese companies will make mistakes of their own, given the sheer volume of deals to come. "This," she says, "has only just begun...
...giant went public (an investment that is so far more than $300 million underwater). This and the CDB stake in Barclays are the most high-profile foreign investments China has made since the oil firm CNOOC tried and failed to buy U.S. oil company Unocal in 2005. Says Jing Ulrich, JPMorgan's Hong Kong-based head of China equities: "China has a wall of money - a tsunami, really - that is about to hit the rest of the world. In terms of global capital markets, there is just nothing happening that's bigger than this right now." Indeed, JPMorgan figures that...
...foreign spending spree in the late 1980s. The Japanese not only met considerable public opposition in the U.S., but in several instances, vastly overpaid for glamorous properties such as the Pebble Beach golf course. "I don't expect China to go in for trophy properties," says JPMorgan's Ulrich. "They know the lesson of the Japanese debacle." That said, she concedes, the odds are that Chinese companies will make mistakes of their own, given the sheer volume of deals to come. "This," she says, "has only just begun...