The Renmin University professor urges systemic reforms to elevate the yuan’s international role via a "Third Way," calling the task China’s “hardest nut to crack.”
«The core logic of the reform is to rebuild market rules and a trust system, making China's capital market a place where global investors are willing to come, stay, and invest. This is the true institutional foundation for realizing the goals of RMB internationalization and building China into a financial powerhouse.»
It seems to me that the eminent professor is a committed Reagan, Thatcher inspired neoliberal propagandist and what he wants means that globalist finance speculators would replace the CPC as the leading power of the PRC as they have become the leading power of the USA replacing the USA industrial capitalist class.
Since WTO entry the PRC has benefited from globalist industrial investors which chose the PRC because wages were low and invested to build lots of valuable fixed capital that they cannot easily relocate and that has made the PRC richer; financial oligarchs in the capital markets are quite different and only invest in areas where they control the government or just put in "hot money" that can be withdrawn quickly, and they want is to extract profits from speculation.
There was a pre-liberation period of chinese history when globalist investors did stay and dominated the chinese capital markets and the chinese economy, and I think most chinese people despise that period.
Consider the case of Japan: even if it has been forced to become an USA vassal their government policy has still been to protect their capital markets, their currency and in general their economy from globalist forces (while taking advantage of them...). Because economic independence is the basis of political independence and should not be surrendered to the global capital oligarchs so easily.
«The core logic of the reform is to rebuild market rules and a trust system, making China's capital market a place where global investors are willing to come, stay, and invest. This is the true institutional foundation for realizing the goals of RMB internationalization and building China into a financial powerhouse.»
It seems to me that the eminent professor is a committed Reagan, Thatcher inspired neoliberal propagandist and what he wants means that globalist finance speculators would replace the CPC as the leading power of the PRC as they have become the leading power of the USA replacing the USA industrial capitalist class.
Since WTO entry the PRC has benefited from globalist industrial investors which chose the PRC because wages were low and invested to build lots of valuable fixed capital that they cannot easily relocate and that has made the PRC richer; financial oligarchs in the capital markets are quite different and only invest in areas where they control the government or just put in "hot money" that can be withdrawn quickly, and they want is to extract profits from speculation.
There was a pre-liberation period of chinese history when globalist investors did stay and dominated the chinese capital markets and the chinese economy, and I think most chinese people despise that period.
Consider the case of Japan: even if it has been forced to become an USA vassal their government policy has still been to protect their capital markets, their currency and in general their economy from globalist forces (while taking advantage of them...). Because economic independence is the basis of political independence and should not be surrendered to the global capital oligarchs so easily.