Follow Up To "Headline of the Day"

China's move to free up its financial sector for foreign investment also potentially bodes well for our emerging markets exposure; as China's looming bad debt issues have been a source of concern for global investors.

From Bloomberg:

With China’s move Friday to allow more foreign investment in banks, financial firms may have been invited to the end of the country’s credit party. “Stressed balance sheets and limited risk-management capacity for many of China’s small- and mid-sized banks means an opportunity for foreign banks to enter with capital and expertise,” according to Bloomberg Intelligence’s Chief Asia Economist Tom Orlik. “It’s a major shift in how China’s banking system works, designed to increase efficiency and solve the problem of bad debt.”