Wednesday, December 06, 2006

economy - The foreign threat for China

I have been pointing more often to the discussion by a new wave of ideologists who are leaving the agenda of the previous government: growth above all. The International Herald Tribune points at a similar discussion among government officials and academics, claim that China is under attack again from foreign powers, according to a Chinese academic magazine.
Last month, China issued rules that will let overseas lenders conduct retail banking all over the country, but foreign bankers fear Beijing will drag out the required approvals to give Chinese banks more time to get ready to face the new competition.
Ye, the researcher, argued in favor of such stealth to shield China's financial sector while avoiding charges of outright protectionist.
"Handle protective actions in a low- key way to avoid attracting attention," Ye wrote.
Ye is a researcher at the National Development and Reform Commission.

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