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Business Daily: China's Capital Flight

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04/01/2017 GMT

China's Capital Flight

BBC World Service - Business Daily, China's Capital Flight

More than $800 billion flew in 2016. Can and should China be restricting the problem?

More than $800 billion flew in 2016, with wealthy Chinese fearing devaluation. Can and should China be restricting this? Plus, remembering the life and times of Alan Greenspan.

We're looking at the growing pressures on China's economy. More than three quarters of a trillion dollars leached overseas last year, despite the government's best efforts to limit capital flight. A new year and new government rules, but can the central bank stop faith dwindling in the world's second biggest economy? And should they even be trying? We hear from a Chinese money-smuggler, ordinary citizens concerned about corruption, and from the BBC's Asia-Pacific regional editor, Celia Hatton, who believes there's mounting anxiety about the capital flight problem in Beijing. Also in the programme we speak to Sebastian Mallaby, a biographer of perhaps the most influential central banker of our time, the former Federal Reserve chairman Alan Greenspan.

(Photo: A Bank of China teller holds up 100 renminbi notes, Credit: Getty Images)

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