CICC: divide and rule

Divide and rule is a traditional tool of statecraft. It looks like China International Capital Corp, run by the son of a former prime minister, is following the principle in corporate politics. CICC, now the top investment bank in China, was established 15 years ago with Morgan Stanley as 35 percent owner and senior partner. But the U.S. investment bank’s role has become more passive. It seems the shares are likely to be sold to two U.S. private equity giants, Kohlberg Kravis Roberts and TPG. Mo...