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Obliging the World - Citibank tries to get debt from Chinese People

Ivesting 72 Million in Shaghai Pudong Development Bank's credit card division, Citibank makes a move on briding the west and east with the all-powerful dollar.

Source: TheTip, 2002-01-02

Candidate: WTO

Pudong Bank said that Citibank would take an initial 5% stake in the bank and the two would form an exclusive alliance to target the politically controlled Chinese population, forming yet another state-run cartel under the control of Citibank.

Citibank did not disclose what percentage it would be allowed to take after this initial investment. $75 Million Dollars is less than a percentage of Citibank's annual net income.

The potential return on this particular monopoly is estimated in the hundreds of billions.

The american political question is whether or not our Government can get the Chinese government to abide by our rules.
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