Currently the yuan is not a convertible currency, meaning Chinese individuals cannot exchange their yuan for dollars
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Currently the yuan is not a convertible currency, meaning Chinese individuals cannot exchange their yuan for dollars to invest abroad. Moreover, companies operating in China must convert all their foreign exchange earnings into yuan. What would happen to the pressure on the yuan to revalue if China relaxed these currency controls and restraints on capital outflows?
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Related Book For
Foundations Of Multinational Financial Management
ISBN: 9780470128954
6th Edition
Authors: Alan C Shapiro, Atulya Sarin
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