SG's Poirier bearish on China underwriting

There's a lot of excitement, or perhaps hype, about China's capital markets. A French bank recently set up a joint venture in China, which will enable it to underwrite IPOs and bond issuance, and perhaps carry out brokering further down the road. SG has had a long presence in China: What's your take on how to tackle this market? Poirier: There's always a temptation in business to relive past business models. In fact, investment banking is changing - it's becoming more commoditized. Y…