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Meet Liu He, Xi Jinping’s Choice to Fix a Faltering Chinese Economy

China prepares to liberalise finance as hedge funds and estate agents salivate

“bit by bit, China’s economy – if not its political structure – is being reshaped along the lines sought by Wall Street and by American-owned transnational corporations.

Back in the late 1990s, US multinationals demanded that China accept more stringent conditions than had been imposed on other developing countries in order to secure WTO membership. Beijing accepted. Now America wants two things: China’s financial sector to be opened up to US banks and the country’s savings to boost western capital markets. More than likely, Washington will get its way, perhaps not immediately but with profound effects.”