When Europeans were living in caves the Chinese were sipping tea from porcelain cups; they have perfected strategy; popcorn economics stands no chance against impeccability; in peace
From Wolf Street, by Wolf Richter
New king of foreign M&A, at peak prices, funded by state-owned banks.
Not even five-and-a-half months into the year, Chinese mergers & acquisitions in other countries have hit $110.8 billion, nearly four times as much as during the same period last year, and surpassing the total volume of the entire year 2015 ($106.8 billion).
And so China Inc. has become the number one cross-border acquirer for the first time ever, ahead of Canada with $67.7 billion in deals, and the US with $53.1 billion.
The superlatives go on: the number of deals soared 79% year-over-year to 300, according to the Nikkei. Of these, 17 were mega-deals of $1 billion or more, up from six such deals last year.
The US, where equity prices have peaked after a seven-year QE-and-ZIRP-fueled rally, and where total M&A through April has plunged 21%, according to Dealogic
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