We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows … enormous pool of domestic savings could have a significant impact on global financial markets as China continues to open up its … foreign portfolio allocations, Chinese IIs overweight sectors in which China has a comparative disadvantage. Moreover, Chinese …

liberalization in China. A more flexible exchange rate regime would allow China to operate a more independent monetary policy …, providing a useful buffer against domestic and external shocks. At the same time, weaknesses in China's financial system suggest … concludes that greater exchange rate flexibility is in China's own interest and that, along with a more stable and robust …