China reforms head down path littered with crisis casualties
History shows disastrous results Beijing faces if it prematurely opens capital account: academic
Beijing
MORE than three decades after Deng Xiaoping led Communist China down the path of economic liberalisation, its current-day leaders are taking the nation into what may be the trickiest reform stage yet.
China's next reform wave focuses on freeing up interest rates, allowing wider currency moves, and loosening restrictions on international money flows. Get it right, and China emerges as a more-efficient economy where money gets to its most productive areas. The flip side: a trail of crises from Latin America to Europe illustrates what can go wrong.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US consumer confidence at lowest level since 2022
Record gold prices boost recycling: WGC
Malaysian fast food operator QSR shelves IPO plans amid boycott campaign: sources
WHO warns of bird flu risk spreading to cows outside US
Sri Lanka’s key inflation rate rises to 1.5% in April
Eurozone economy rebounds in first quarter, inflation stable in April