Wall Street Has Officially Thrown In Its Lot With Beijing

Beijing opens up wealth management, the final frontier for Wall Street in China

A Wall Street sign hangs at the New York Stock Exchange at Wall Street in New York on March 23, 2021. Angela Weiss/AFP via Getty Images

Commentary

Despite tensions between Beijing and Washington increasing over the past five years, Wall Street firms have steadily increased their business footprint in China while carefully navigating the political whirlwinds.