NEW YORK -- Several major U.S. banks have been hit by the harsh reality of tensions between the world's two biggest economies, making expansion in China -- once thought of as a "holy grail" of opportunity -- increasingly fraught with risk.
Finance
U.S. banks' China ambitions wane as political tensions linger
Sluggish post-COVID recovery also taints market once called the 'holy grail'
Lujiazui financial district in Shanghai. Barclays described China's economy as one that was losing steam. © Reuters
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