East Asia Watch
US-China fight - taking it to the financial markets
Amid recent threats aimed at Chinese firms' access to US funds, China opens its doors wider to foreign financial institutions
After the United States labelled China a currency manipulator last August, veteran banker Chen Yuan warned that the trade war between the two giants was evolving into a financial and currency war. When Washington dropped the designation in January, China heaved a sigh of relief, but the respite was momentary.
The dangers of the money markets being a new front in the US-China contest are rising again.
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