Western brands don’t always carry over in China
Watching Warren Buffett on CNBC try to give a clean slate to Goldman Sachs stirred a number of thoughts. First, I was surprised the “Sage of Omaha” was willing to spend his personal good will to try to help Goldman, but then again, his company has a $5 billion primary investment and options on another 5 billion shares, so maybe it makes economic sense.
Second, it brought to the forefront the question of what is good will and what is it worth.
Warren Buffett is a brand. He is generally well-regarded everywhere, and China is no exception. Goldman Sachs also is a brand that the Chinese used to hold in high esteem. We will see what the future holds.
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