South Korean, Taiwanese and Japanese firms ramp up US investment
Companies from South Korea, Taiwan, and Japan are seriously stepping up their investments in the US
With global supply chains changing, these countries see a big opportunity:
Citi's Ernesto Torres Cantu, Citi's head of international business outside North America, says they've got "significant capacity to invest in the US," so we can expect this trend to keep going.
The result? Business coming into North America is growing fast, with double-digit growth in inbound business into North America.
Citi, JPMorgan back Japanese US projects
Citi and JPMorgan are helping fund Japanese projects tied to Tokyo's $550 billion US investment plan, while the White House recently announced the initial phase of South Korea's $350 billion strategic investment package.
These investments usually roll out step by step, from buying land to setting up operations, and they're helping companies stay strong despite global challenges.
All this action is also boosting demand for banking services: Citi saw a 15% jump in service revenue last quarter as more businesses need help moving money and handling trade.