sharon sanders
Editor-in-Chief & President
[h=2]OPINION[/h] [h=1]China?s rigged markets will ultimately destabilize global capitalism[/h] By Peter Morici
Published July 31, 2015
snip
"Just about nothing in China?s financial sector is legitimate. Unlike Western central banks, the Peoples Bank of China does not independently set monetary policy or regulate banks. It takes its orders from politicians on the State Council, state banks carry loans that will never be repaid by otherwise insolvent enterprises, and the yuan does not trade freely against the dollar and other currencies in foreign exchange markets."
http://www.foxnews.com/opinion/2015...ultimately-destabilize-global-capitalism.html
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A death knell to the economy......a limit on spending......
Published July 31, 2015
snip
"Just about nothing in China?s financial sector is legitimate. Unlike Western central banks, the Peoples Bank of China does not independently set monetary policy or regulate banks. It takes its orders from politicians on the State Council, state banks carry loans that will never be repaid by otherwise insolvent enterprises, and the yuan does not trade freely against the dollar and other currencies in foreign exchange markets."
http://www.foxnews.com/opinion/2015...ultimately-destabilize-global-capitalism.html
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A death knell to the economy......a limit on spending......
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George Chen @george_chen 8m8 minutes ago
BREAKING: China's central bank announced draft rules to limit 3rd-party online payment, up to 5K RMB per day & account, or 200K RMB per year
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- George Chen @george_chen 4m4 minutes ago
China's new draft rules of online payment will limit individual consumer's online spending and business scope of Alibaba's Taobao and others