The FT reported that China’s central bank has argued for loosening its capital controls in a landmark report: http://www.ft.com/intl/cms/s/0/bd948148-5dfd-11e1-8c87-00144feabdc0.html#axzz1nDRQgZ00
Such a move if it were to happen would be a giant boon to the U.S. financial sector for the following reasons:
-It could create the potential for a whole new set of derivative products.
-It would provide more investment opportunities and banking opportunities to financial firms.
-It could increase commissions exponentially by the tsunami of transaction volume. Continue reading