Motorcyclists ride past a statue of Mao Zedong in front of the Sichuan Science and Technology Museum in Chengdu. China’s instinctive response to pressures from net capital outflows, volatile stock markets and imbalances caused by export-led growth is more market intervention. Photo: BloombergMotorcyclists ride past a statue of Mao Zedong in front of the Sichuan Science and Technology Museum in Chengdu. China’s instinctive response to pressures from net capital outflows, volatile stock markets and imbalances caused by export-led growth is more market intervention. Photo: Bloomberg
Motorcyclists ride past a statue of Mao Zedong in front of the Sichuan Science and Technology Museum in Chengdu. China’s instinctive response to pressures from net capital outflows, volatile stock markets and imbalances caused by export-led growth is more market intervention. Photo: Bloomberg

China must stop its destructive market interventions while it can

Christopher Lingle says Beijing’s ultimately vain efforts to strictly control its exchange rates, while allowing the US to borrow more freely, worsens its own debt problems and contributes to global volatility

Topic |   China economy
Motorcyclists ride past a statue of Mao Zedong in front of the Sichuan Science and Technology Museum in Chengdu. China’s instinctive response to pressures from net capital outflows, volatile stock markets and imbalances caused by export-led growth is more market intervention. Photo: BloombergMotorcyclists ride past a statue of Mao Zedong in front of the Sichuan Science and Technology Museum in Chengdu. China’s instinctive response to pressures from net capital outflows, volatile stock markets and imbalances caused by export-led growth is more market intervention. Photo: Bloomberg
Motorcyclists ride past a statue of Mao Zedong in front of the Sichuan Science and Technology Museum in Chengdu. China’s instinctive response to pressures from net capital outflows, volatile stock markets and imbalances caused by export-led growth is more market intervention. Photo: Bloomberg
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