David Barboza: Horse Trading for a Venture in China

From the New York Times, via theledger.com:

Shortly after a SARS crisis scared many people off the streets of this city, Henry M. Paulson Jr., the chief executive of Goldman Sachs, flew here for a quiet dinner on June 4, 2003, with two of China’s most influential power brokers.

They worked out a remarkable deal, approved last year by President Hu Jintao, that marks a triumph for Goldman – the creation of a joint venture that gives the firm greater access than any other foreign investment bank to China’s increasingly lucrative financial services market.

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