China Confronts the Market

China’s current economic woes have for the most part been viewed through a single lens: the government’s failure to let the market operate. however that perspective has led foreign observers to misinterpret some of this year’s most significant developments within the foreign-exchange and stock markets.

Undoubtedly, Chinese powers do mediate firmly in different ways. From 2004 to 2013, the Individuals Bank of China (PBOC) purchased trillions of dollars in remote trade holds, along these lines keeping the renminbi from acknowledging as much as it would have had it drifted openly. All the more as of late, ...

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