Jan
07

Bewildering Beijing

xiChinese equity markets are declining because their economy is looking increasingly weak. Worse, the policy of chronically devaluing the yuan, despite a $600 billion trade surplus, has many convinced the government has simply run out of ideas. That, in turn, has led to a growing lack of confidence in the government which is causing capital flight. The real problem, for the economy to grow Beijing must give up control.

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