China Faces Parlous Path Toward Yuan and Capital Liberalization

  • Premier Li: "We will gradually achieve full convertibility"
  • Destabilizing capital outflow risk weighs on policy makers

President Xi Jinping’s military parade marking the 70th anniversary of the end of World War II in early September showcased China’s latest fighter jets, missiles and rising military prowess. China hopes a super-sized yuan will someday do the same thing in the economic realm.

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