Yet another indicator tells a story of China's rise. The People's Republic now has three of the world's biggest banks by Tier-1 capital, up from one last year. This rise, however, is at the expense of British banks rather than American ones. Barclays and Lloyds Banking Group have slipped back. America remains top dog, with four of the world's top ten. But China has three of the five most profitable banks, America only one. This might be one race China is not desperate to win. With systemically important banks facing additional capital requirements, China's state-dependent banks will face pressure to find more robust funding. The domestic focus of their operations will limit global scrutiny. But only for now.