Is China Pulling the Plug on Overseas Investment?

Why Beijing Got Cold Feet and Sank a Major Deal to Buy a U.S. Hotel Giant

China Ambitious Anbang

Every time China appears ready to take (or retake) its rightful place in the global economy, a reminder comes along that this isn’t just another country willing to abide by the conventions and dictates of international financial markets. Not yet, anyways.

The latest such reminder came when Anbang Insurance Group won a bidding war against Marriott to acquire Starwood Hotels, only to pull out of the deal at the 11th hour, on March 31, vaguely citing “various market considerations” as the excuse for withdrawing its $14 billion offer. The erratic behavior …

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