The opening of China's financial system (2019 and 2020)
China would make changes to the ownership conditions of foreign investors in its financial sector in 2020. Beijing's signal came in the context of the U.S.-China trade war.
The objective is to internationalize Reminbi. Chinese banking has been opened to foreign investors as part of this strategy and to comply with the agreements made with the IMF.
However, the Chinese government has learned the lesson of the American war against the yen sustained between 1985 and 1990, and has implemented the necessary regulatory mechanisms to open its financial system, with the purpose of countering exchange and speculative attacks.
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