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Ending Financial Repression in China

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  • James Dorn
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    Abstract

    China has the most restricted capital markets in Asia. Constraints on capital freedom have resulted in politicization of investment decisions, corruption, waste of capital, and loss of personal freedom. Ending financial repression in China by liberalizing macro-economic prices and making the Yuan fully convertible would help China become a world-class financial centre. To do so, however, would require widespread privatization and rule of law-both of which would undermine the power of the Chinese Communist Party. The West should be patient with China and recognize that gradual reform and engagement are preferable to destructive protectionism.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Global Economic Review.

    Volume (Year): 35 (2006)
    Issue (Month): 2 ()
    Pages: 231-238

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    Handle: RePEc:taf:glecrv:v:35:y:2006:i:2:p:231-238

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    Related research

    Keywords: Capital freedom; property rights; spontaneous order;

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    Cited by:
    1. Dehghan Nejad, Omid, 2011. "The review of financial repression policies and banking system in Iran," MPRA Paper 30924, University Library of Munich, Germany.
    2. James Dorn, 2006. "Comments on H. Genberg: “Exchange-rate arrangements and financial integration in East Asia: on a collision course?â€\x9D," International Economics and Economic Policy, Springer, vol. 3(3), pages 383-386, December.

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