A Flash in the Pan?
When Bank of America bought into China Construction Bank it surprised many, not least its own shareholders. Until then, the North Carolina-based bank, was known mainly in Asia for offering steady, reliable revenue-generating commercial banking services to US and Asian corporates. But at a stroke its US$3 billion investment for 9% of China's third-largest lender thrust it firmly into the spotlight. Elliot Wilson asks whether it was just a flash in the Asian pan.
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