Not too long ago, top Western banks were falling all over themselves to invest in big banks in China and elsewhere in Asia. The middle market was one of those "rare opportunities" not to be missed. Then came the credit crunch. Now Bank of America is in talks to sell its nearly 10 percent stake in China Construction Bank, to raise capital. What about other banks? American Express, Goldman Sachs, and Citigroup were among the American banks making sizable investments in the region. It's not fait accompli. The New York Times notes these deals have generally been good for American banks. And the market seems promising.

For  more:
- here's the New York Times article

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