How Capital Account Opening Would Strengthen the Central Bank

Last week, the People’s Bank of China (PBOC) announced a series of measures aimed at further liberalizing China’s capital account and hinted that there is more to come. While the timing of the recent announcement is likely related to the ongoing US-China trade dispute, the substance of these reforms has been in the works for years. Were it not for the surge in capital outflows … https://bit.ly/2rbIahM

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