Given the first half of your argument is true, why exactly would capital not flee China to unregulated tax havens (after they've moved from manufacturing)?
the part of financialization that is in the public sector is under complete control. if privatization occurs and they can use tax havens, that is just a loss. so they either account for sufficient capital controls, or concede these outflows as cost-beneficiary collateral. Given the number of officials implicated in the panama papers and the reaction from govt, i think its somewhere between
Given the first half of your argument is true, why exactly would capital not flee China to unregulated tax havens (after they've moved from manufacturing)?
the part of financialization that is in the public sector is under complete control. if privatization occurs and they can use tax havens, that is just a loss. so they either account for sufficient capital controls, or concede these outflows as cost-beneficiary collateral. Given the number of officials implicated in the panama papers and the reaction from govt, i think its somewhere between