Global Notes #16
by Jerry Harris, SolidarityEconomy.net
. Transnational capitalists hedge US investments
In November US investors bought a record number of foreign assets ($39.1B) amid fears of the weakening dollar. Wall Street Banks are also profiting from a boom in global business with international revenues growing three times as fast as their US investments. The world’s biggest bank, Citigroup, said its international revenues jumped 34 percent compared to an increase of about 10 percent in the US. For the first time operations in Europe and Asia earned (more…)
