John Foley is Reuters Breakingviews' China editor. Based in Beijing, he writes on China’s economy and financial markets. John established Breakingviews’ Hong Kong bureau in 2009, and previously wrote on mergers and acquisitions, capital markets and consumer goods in London. Before joining Breakingviews in 2004, John worked as a copywriter for a London-based advertising agency. John read English Literature at Exeter College, Oxford. Follow John on Twitter @johnsfoley
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Investigating ex-security chief Zhou Yongkang shows China’s president is firmly in charge. That may help sustain faith in the Party. But other institutions need a scrub too. Exposing the money trail, and those who help the rich and mighty bypass the rules, is a logical next step.
Money market funds like the one linked to Alibaba are buying longer-term assets to bolster yields. That could create a crunch if savers realise their assets aren’t as safe as cash. Freeing up bank deposit rates would remove the distortion that fueled the boom in the first place.
KFC’s parent and McDonald’s have been tainted by stale meat that slipped through a supplier’s controls. Monitoring a rapidly growing business is tough, and global brands face a high bar – just ask JPMorgan or Glaxo. Being foreign and successful is fast becoming a health risk.
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