"Don't rule out the US. It is restructuring itself in a very
quiet but deliberate way."
It's December 9 2010, and I'm sat with banking veteran Mike
Geoghegan in a meeting to coincide with his final days as HSBC
chief executive. "There is a huge undercurrent of change in
society in the US…The US might turn around and surprise
us all," he said.
Back then, few shared his optimism. After all, this was
China's moment, or so we believed. Today, however, Geoghegan's
prophecy rings true.
American regulatory repairs...