China tells bankers to be more patriotic
Financiers from 200 years ago are wheeled out as role models
Open the wardrobe of a high-flying Chinese banker, and it would be no surprise to find handmade foreign suits, all sadly gathering dust. It is a year, almost to the day, since an anti-corruption agency ordered financiers to abandon “hedonistic” lifestyles, rectify “elitist” thinking and stop worshipping the West. Several bank bosses and former executives have been arrested for graft. Many workers in finance have seen their salaries cut. All in all, this is a prudent moment to leave the Savile Row pinstripes at home.
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This article appeared in the China section of the print edition under the headline “China tells bankers to be patriotic”
From the March 2nd 2024 edition
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