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US Banks to Exit China If Taiwan Is Attacked

US Banks to Exit China If Taiwan Is Attacked

by Starling Insights

Starling Insights Editorial Board

Oct 03, 2022

Observations

At a recent hearing held by the US House of Representatives Committee on Financial Services, the chief executives of JP Morgan Chase, Bank of America, and Citigroup committed to pulling out of China in the event of a military assault on Taiwan.

“‘Condemn’ is a very strong word,” Jane Fraser, CEO of Citigroup, said when pressed by lawmakers to express support of Taiwan and to condemn the alleged human rights violations in China. She added that the bank was “distressed” to see human rights violations going on “anywhere in the world.”

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