In previous posts, I have talked about how important the “Go West” policy of the Chinese government will be to your Asian portfolio. As a refresher, Go West is the China’s plan to spread its economic growth to the rural, western interior of China.
The Bank of Nova Scotia increased its stake in Xian City Commerical Bank to 14.8% and said it plans to increase that stake to 20% in the future.
Xian is best known as the home of the Terra Cotta Warriors, but it is also the epicenter of the Go West growth spending boom. Smart move by the Bank of Nova Scotia.
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Really helpful to an old retiree like me. Thanks! Maybe I will recover some of ‘all that money’ we lost.