China’s Communist Party takes aim at hedonistic bankers
Time to forget about luxury cars and Shanghai’s nightlife
Senior staff at China’s largest investment banks have been flying economy, not first class, in recent months. They are cutting back on entertaining clients and drinking less, if at all, at banquets. A banker says he has been warning junior colleagues to avoid ostentatious displays of wealth. It is, he reports, for their own good.
This article appeared in the Finance & economics section of the print edition under the headline “An anti-party party”
Finance & economics
March 11th 2023- Can the West’s perplexing employment miracle continue?
- How to measure China’s true economic growth
- China’s Communist Party takes aim at hedonistic bankers
- New York’s stockmarkets are thrashing Hong Kong and London
- Lessons from finance’s experience with artificial intelligence
- Why commodities shine in a time of stagflation
- Emerging-market central-bank experiments risk reigniting inflation
From the March 11th 2023 edition
Discover stories from this section and more in the list of contents
Explore the edition
Trump’s tariff turbulence is worse than anyone imagined
Even his concessions are less generous than expected
Why silver is the new gold
Safe-haven demand and solar panels have sent its price soaring
Trump’s new tariffs are his most extreme ever
America targets its three biggest trading partners: Canada, Mexico and China
El Salvador’s wild crypto experiment ends in failure
Its curtailment is the price of an IMF bail-out. And one worth paying
America is at risk of a Trumpian economic slowdown
Protectionist threats and erratic policies are combining to hurt growth
India has undermined a popular myth about development
Extreme poverty in the country has dropped to negligible levels