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Silicon Valley Bank’s collapse is rippling into China. Thousands of Chinese companies are listed among the bank’s clients—with over $240 million in assets on the line—and 57 are on a special list belonging to the Chinese Communist Party. Those same companies fall under the “foreign depositors” category that the United States is set to protect. Sen. Marco Rubio (R-Fla.) penned a letter to Treasury Secretary Janet Yellen, expressing concern over handouts to the Chinese regime. Estimates say the bank had nearly $14 billion of uninsured foreign deposits.
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SVB Collapse: Would the US Help Chinese Drugmakers? | Trailer | China in Focus
#chinainfocus #ccp #siliconvalleybank
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