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Growing role of speculative capital in China’s financial system

Author

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  • Aleksander Nikolayevich Zelenuk

    (Moscow State Institute of International Relations (University) MFA Russia)

Abstract

The role of China in the world economy has being rising in recent years, with its exports growing rapidly and increasing gold and foreign exchange reserves. The exchange rate of the national currency has been at a relatively high level for many years, which attracted the currency speculators to the markets. The country consistently received large sums, while growing and flows associated with the capital exports by Chinese companies. The inclusion of the yuan in the SDR basket of reserve currencies has significantly increased its attractiveness, against which the bulk of currency speculators began to play. The devaluation of the yuan reduced the interest in speculation, but did not stop the capital inflows and outflows having forced the Chinese government to develop the taxon speculative capital inflows.

Suggested Citation

  • Aleksander Nikolayevich Zelenuk, 2016. "Growing role of speculative capital in China’s financial system," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 10, pages 78-92, October.
    • Handle: RePEc:alq:rufejo:rfej_2016_10_78-92
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