"With all the other US based banks offering
similar rates, why would anyone, unless they have
family or business relationships in China,
even consider putting his/her money with this
bank vs. with a US-based bank?"
The older I get the more I see a huge banana republic forming right before my eyes. Who would have ever believed this could happen this quickly?
Your money might actually be better off in Bank of China CDs rather than USA. Just not for me though.