China’s Unavoidable Financial Rise [Project Syndicate]

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Excerpt: "Ultra-loose monetary policy in the US and the European Union during the COVID-19 pandemic has undoubtedly helped to fuel this surge in purchases of Chinese assets. A huge amount of money is flowing out of the US and the EU, and China is a safer destination for it than other emerging-market economies."
A decade ago, few economists were bullish about the growth of China’s external financial strength. But the government’s commitment to capital-market opening and renminbi internationalization – together with China’s sheer size – have fueled a rapid financial rise that will only continue.

Source:
https://www.project-syndicate.org/commentary/china-is-becoming-a-global-financial-power-by-zhang-jun-2021-08?utm_source=facebook&utm_medium=organic-social&utm_campaign=reactive&utm_post-type=link&utm_format=16:9&utm_creative=link-image&utm_post-date=2021-09-04


https://www.project-syndicate.org/commentary/china-is-becoming-a-global-financial-power-by-zhang-jun-2021-08?utm_source=facebook&utm_medium=organic-social&utm_campaign=reactive&utm_post-type=link&utm_format=16:9&utm_creative=link-image&utm_post-date=2021-09-04


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