Forbidden City

Farewell to easy, easy money

  • Published 09 Jul 2009

Beijing has two challenges on its hands; one of an economic nature to curb liquidity without stopping growth, and the other of political importance to contain the worst ethnic unrest since the Cultural Revolution.

"When at first we met, it was awkward, but our parting was yet more difficult." So runs the opening line of a famous Tang dynasty poem. The sentiment it describes could be applied to the task now facing the People's Bank of China (PBoC).

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