JPMorgan Chase and Goldman Sachs plan to stay in China despite worsening U.S.-China relations, with both banks adjusting their business focus.
One analyst has said that this marks Wall Street’s entry into the stage of “de-risking without decoupling.”
Daniel Pinto, vice chairman of JPMorgan, said Oct. 15 that the largest U.S. bank is still investing in China, while noting that “the size of our business would have been multiples of what it is today” if U.S.-China relations were better.
While continuing its Chinese operations, JP Morgan is carefully managing the exposure, size, liquidity, and quality of its investments, according to Pinto….