China | Tobin tax could be introduced to stem capital outflows
Published on Thursday, October 22, 2015 | Updated on Sunday, May 13, 2018
China | Tobin tax could be introduced to stem capital outflows
Summary
Today’s released FX market data confirms a further stabilization in September after the unexpected RMB devaluation in early August caused violent movements in financial markets. Nevertheless, the pressure of capital outflows remains large as domestic firms and individuals, fuelled by expectations of further RMB depreciation, scrambled to exchange for the USD.
Topics
- Topic Tags
- Regional Analysis China
- Macroeconomic Analysis
Authors
Le Xia
BBVA Research - Chief Economist