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Not Enough Barbarians at the Gate

The long-term opening of China’s bond market is inevitable, as China will need to court foreign investors more aggressively to offset persistent outflows under the capital and financial accounts. The announced Bond Connect program will mollify some investors’ concerns about investing in China’s bond market, but much more will be needed to solve risk hedging and credit ratings problems, and to establish a stable and transparent policy environment to better guide market expectations.

Posted August 1, 2017
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