A technician checks hanging clocks at a workshop of a clock company in Yantai, in eastern China’s Shandong province, on December 15. Photo: AFP A technician checks hanging clocks at a workshop of a clock company in Yantai, in eastern China’s Shandong province, on December 15. Photo: AFP
A technician checks hanging clocks at a workshop of a clock company in Yantai, in eastern China’s Shandong province, on December 15. Photo: AFP
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

China’s rein on financial innovation shows it won’t give up manufacturing for a runaway services sector

  • It is unlikely Beijing will pursue the development of financial and other service sectors for its own sake, at the expense of industry
  • China is apparently keen to avoid the ascendancy of ‘moneymakers’ over ‘thing makers’ in Western economies that has helped create economic inequalities and social friction

A technician checks hanging clocks at a workshop of a clock company in Yantai, in eastern China’s Shandong province, on December 15. Photo: AFP A technician checks hanging clocks at a workshop of a clock company in Yantai, in eastern China’s Shandong province, on December 15. Photo: AFP
A technician checks hanging clocks at a workshop of a clock company in Yantai, in eastern China’s Shandong province, on December 15. Photo: AFP
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Anthony Rowley

Anthony Rowley

Anthony Rowley is a veteran journalist specialising in Asian economic and financial affairs. He was formerly Business Editor and International Finance Editor of the Hong Kong-based Far Eastern Economic Review and worked earlier on The Times newspaper in London