Japanese, Korean, Taiwanese firms' US investment set to keep climbing, Citi says
C•Citi executive Ernesto Torres Cantu expects investment in the United States by Japanese, South Korean and Taiwanese firms to keep rising. Citi's third-quarter revenue rose 8%, while its services business revenue increased 15%.
1. Asian investment outlook
Citi executive Ernesto Torres Cantu said investment in the United States by Japanese, South Korean and Taiwanese firms is likely to continue, with spending building in stages. He said North America-bound inbound business is growing at a double-digit rate.
2. Citi services growth
Citi's overall revenue rose 8% in the third quarter of this year, while revenue in its services business increased 15%. The business provides cash management, payments, trade finance and liquidity to corporations, financial institutions and governments.
3. Other trade corridors
Cantu said cross-border flows involving China and India are also growing. Flows from China to the rest of the world have expanded by more than 20% a year for the past two years, he said.
