Forbes: China's Market Regulators Appear To Be At War With Themselves
By SIMON CONSTABLE
China's latest financial markets move is puzzling.
The country wants to open up its bond market to foreign investors. The reason for this would seem to be part of its apparent long-term goal of having the Chinese yuan become a major world currency just like the euro or the yen or the greenback. Some people even say the yuan could supplant the dollar as the number one reserve currency. Even if that happens it's a long way off in large part because of what the Chinese government is doing to itself.
The issue is that different parts of China's bureaucracy would appear to be working against each other, at least in their actions if not their intent. Read more here.