July 6, 2019

【Panda express】

China’s financial opening is partly a response to the trade war with America.

Foreign financial companies can seek opportunities in serving wealthy clients or handling cross-border deals.

【Cash in on your Picasso】

Borrowing against art collections can unlock their value quickly. The outstanding value of loans against art in America was estimated to reach $17bn-20bn in 2017. And lending has continued to grow at double-digit rates.

【Buttonwood】

The number of public firms in America has declined by more than a third since the 1990s. Startups ties up more of their value in ideas than in fixed assets, and they can now be readily tapped from private sources.

【Raising the stakes】

Switzerland barred the trading of Swiss-listed companies’ shares on EU platforms. Swiss shares would become less liquid. The EU might also signal to Britain’s next prime minister that it is no longer willing to tolerate a pick-and-mix relationship like that.

【Sumo-sized challenge】

Japanese people need to put more aside for retirement, but they are loth to take greater risks in search for higher returns.

Japanese are highly risk-averse: the bulk of Japan’s 1.83 quadrillion in household financial assets is held in post offices or bank accounts that pay zero interest. Most of it is owned by people who remember the puncturing of Japan’s asset bubble a generation ago.

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