China's business crackdown isn't scaring away big investors
"I can't and won't quit China." That was a prominent U.S. growth equity investor, when I asked if Beijing's business crackdown was causing him to reconsider his firm's China strategy.
Driving the news: It's the same message I've heard repeatedly over the past 24 hours, albeit not usually so pithy. My questions came after SoftBank reported a $3.5 billion third-quarter loss, plus a $54 billion dip in net asset value, that it largely pinned on China.
SoftBank CEO Masa Son began his investor presentation with a picture of a blizzard. Then, when explaining...