Jeff Wang, November 8, 2018 The Chinese government has been gradually tightening its foreign exchange controls to the great detriment of enterprises and citizens, as well as the country’s economic vitality. What are the reasons for this heavy regulation, and what does it tells us about the economic and political state of China? Over the last two years, members of the Chinese middle class have found it increasingly challenging to access foreign exchanges or make international remittances. Ms. Zhang (张女士), a Chinese woman who had immigrated to the United States and who declined to disclose her full name, returned to Beijing this October to sell her apartment. However, the process of sending the money to the U. S. has proved a daunting experience. “I’m […]
China Change, September 22, 2018 Unsettling news from China emerges every week in a constant flow — on social media, in reports, and from our own sources in the country. Not every new development is suited to a fully fleshed-out analysis, and as with so much in China, many reports and developments cannot be immediately confirmed or properly evaluated. Nevertheless, while each individual brush stroke may not be decisive, upon stepping back a fuller picture begins to emerge. China Change catalogues and contextualizes these items so as to keep a growing awareness of changes in China. — The Editors Local Government Debt: Going Bankrupt, or Raising More? On September 13, the General Offices of both the Chinese Communist Party and the State Council […]
Throughout the economic downturn China has kept huge numbers of people employed by starting massive infrastructure projects. They’ve built hundreds of miles of high-speed rail, started construction on new subway lines, and have worked on improving the freeway system. It seems China has all the infrastructure it could ever need, maybe even more than it will need for a while. However, there are three areas that seem decades behind where they should be for a superpower, and we’ll be looking at them over the next few days. Banks- The bank is my least favorite place in China. It is the pinnacle of Chinese style bureaucracy, with piles of pointless paperwork and regulations that are impossible to understand. A few examples: Paper work – When my […]
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