China on Course for Capital Account Liberalization

Now that the IMF has made the RMB its fifth reserve currency, new attention is being paid to the risks associated with cross-border capital flow. Managing these risks requires active participation in global governance and rules making, in particular global exchange rate reform, balance of payment adjustment regime, capital flow management and the reform and coordination of monetary and financial policies on a global scale.

Zhang Monan, Researcher, China Int'l Economic Exchanges Center via CHINA US Focus http://ift.tt/1Ttp3Ww