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China said to be drafting rules for a Tobin Tax on FX trading - Bloomberg

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Headline crossing the wires via Bloomberg that China is said to be drafting rules for a Tobin Tax on FX trading.

    Liu Jian, a Shanghai-based researcher specializing in cross-border capital flows at Bank of Communications Co noted, “A Tobin tax is useful in curbing short-term capital outflows, but won’t benefit the yuan trading in the long run, as high-quality capital might find investing in the currency more expensive.”
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