Editorial: An all-American comeback?

Author: | Published: 27 Aug 2013

"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...