We do not view it as a change in policy. China is reforming its capital accounts - carefully and gradually relaxing controls on many of the 43 different lines of the capital account. We think this is the right way to do things.
More Quotes from Stephen Green:
One could say that 9.9 percent is a very convenient number it's not 10 percent. Ten percent might scare people, and might create more trade friction with the U.S..Stephen Green
It's actually huge. It's the beginning of a wave of Chinese global investment.
Stephen Green
I don't think this out of control. I would say, given that most people are expecting a slow down in the U.S. this year, they probably wouldn't want to put the breaks down too hard.
Stephen Green
All of these things are what foreign competitive institutions are good at and what Chinese institutions lack.
Stephen Green
For the last three years we've been debating the whole share sell-off reform. Now people are a lot more bullish. I think there is a sense that the worst is over now.
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Any analysis of the demographics of emerging markets tells you that consumer finance is going to be an important part, and a rapidly growing part, of the financial-services spectrum for a long time to come,
Stephen Green
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