Monday, January 10, 2005

Chinese Can Now Withdraw Cash Abroad

Holders of cards issued by Chinese banks can now withdraw cash overseas. Slowly but steadily, the Chinese capital account is opening up, and it's anyones guess in which direction currency will flow. Brad Setser has some strong opinions on the subject, and I agree with him.

Incidentally, I've noticed that the US is not on the approved Chinese tourism list (Cuba is).


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