China FX Giant Stung by WaMu Collapse

Posted on 12/30/2008

China’s State Administration of Foreign Exchange (ASFE) will reduce its overseas equity buys next year after suffering major losses on the collapse of U.S. lender Washington Mutual. SAFE Investment Company invested up to US$ 2.5 billion in fund of U.S. private equity giant TPG Capital. This was SAFE’s initial foray into U.S. private equity. In […]