{"id":1959,"date":"2015-11-03T15:01:22","date_gmt":"2015-11-03T14:01:22","guid":{"rendered":"http:\/\/blogg.lnu.se\/china-research\/?p=1959"},"modified":"2015-11-03T20:43:08","modified_gmt":"2015-11-03T19:43:08","slug":"no-fully-convertible-yuan-any-time-soon","status":"publish","type":"post","link":"https:\/\/blogg.lnu.se\/china-research\/?p=1959","title":{"rendered":"No fully convertible yuan any time soon"},"content":{"rendered":"

According to different articles in media \u2013 also at home – the conclusion could be made that China soon will be introducing full convertibility of its currency, the yuan. Such a step would, of course, have far-reaching consequences for all companies all over the globe dealing with China, Swedish companies included. In previous articles, I have always explained such a surprising and sudden step as risky and premature. Instead, I have been pleading strongly for a very gradual introduction of full convertibility of the Chinese currency. Therefore, the news from this morning made me quite astonished.<\/p>\n

However, things do not seem to be that exciting. I have checked different Chinese sources \u2013 the press included \u2013 and have just found that \u201dChina will gradually <\/strong>make the yuan convertible on the current account\u2026\u201d <\/em>(Xinhua November 3). The ambitions to internationalize the yuan seem to be much higher at this stage of financial deregulation.<\/p>\n

Here we go again: gradual deregulation is the melody of the Chinese. This is certainly the right way to move forward when it comes to financial cross-border deregulation. Improvements of the domestic financial market, however, are more urgent \u2013 and should timewise be put in the first place. Sequencing \u2013 i.e. domestic financial reforms before the complete opening-up of the capital account and full currency convertibility – matters also in this context.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

Hubert Fromlet<\/em><\/strong>
\n<\/em>Senior Professor of International Economics, Linnaeus University
\nEditorial board<\/a><\/p>\n

 <\/p>\n

Back to Start Page<\/a>
\n<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

According to different articles in media \u2013 also at home – the conclusion could be made that China soon will be introducing full convertibility of its currency, the yuan. Such a step would, of course, have far-reaching consequences for all companies all over the globe dealing with China, Swedish companies included. In previous articles, I […]<\/p>\n","protected":false},"author":174,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13398],"tags":[],"class_list":["post-1959","post","type-post","status-publish","format-standard","hentry","category-china-2"],"acf":[],"yoast_head":"\r\nNo fully convertible yuan any time soon - China Research<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/blogg.lnu.se\/china-research\/?p=1959\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"No fully convertible yuan any time soon - China Research\" \/>\r\n<meta property=\"og:description\" content=\"According to different articles in media \u2013 also at home – the conclusion could be made that China soon will be introducing full convertibility of its currency, the yuan. 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