China is becoming more trouble than it’s worth for US investment banks

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.When one of China’s biggest property developers wanted to raise $300mn in Hong Kong late last month, JPMorgan Chase seemed to have everything ready. The Wall Street bank had lined up investors for the Country Garden share sale, and published a term sheet with a fixed price. It launched the deal on a Monday evening. Shortly afterwards, Country Garden walked away,..