Howie is co-author of Privatizing China and an expert on the history of the Chinese stock market. He says China's attitude to foreign investors changes depending on market conditions. When things are going badly, the Chinese authorities are eager for foreign investment. The qualified foreign institutional investor scheme QFII is used to pump up the market in bad times, for example, but foreign investors are left scrabbling for quota when the market improves,ö he says.
Yet such a suspicious attitude to foreign investment is absurd if the...
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