Sharon Lam joined Breakingviews in December 2017. Prior to joining Reuters, she completed an internship at Forbes. Sharon has also worked at Korean fund house Mirae Asset in product development and marketing, as well as HSBC private bank. She graduated from Tufts University with a bachelor's in international relations and political science, where she wrote for The Tufts Daily and edited for Hemispheres, an international relations journal.
Poly International and China Guardian now dominate the $7.1 billion global market for Chinese art and antiques. Having crushed smaller local rivals, they are expanding abroad. But their parochial, state-protected nature hobbles them. Sotheby’s and Christie’s look safe for now.
Fosun International is floating the renowned resorts once backed by Edmond de Rothschild. Similar travel stocks imply the Club Med division should be worth about $1.7 bln. Early reports, though, peg a valuation of up to $2.8 bln, suggesting a sunny pitch about Chinese tourists.
The flat-sharing giant faces stiff competition and regulatory risk in the People’s Republic, but that doesn’t mean it should cut and run like Uber did. Partnering with a domestic incumbent could help both sides cash in on China’s travel boom.