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| Author: | Xiao, Chuanxongping |
| Title: | Thailand's financial crisis and China (original in Chinese) |
| Journal: | Northeast Asia Forum (c)
1998 : 4, p.8-11 |
| Index terms: | FINANCIAL CRISES THAILAND CHINA MONETARY POLICY |
| Language: | chn |
| Abstract: | Thailand's unduly depending on foreign direct investment and short-term funds due to current account deficit since the 1960s and the government's foreign investment-depending on industrialization line led to the break out of Tailand's financial crisis. Different from Thailand's, China's trade account and current account are all normal and the short-term debt service ratio is only 14%, much lower than Thailand's. At the same time, China's control over foreign exchange is very strict and the free conversion of the RMB is conducted according to the actual need and the current transactions are restricted. Therefore, the financial crisis like Thailand's would not emerge in China at present. |
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