News Snapshot:
A former Chinese central bank governor has warned there will be no free lunch following unprecedented money printing by the United States and blind faith in modern monetary theory, warning of potential side effects and labelling them as one of six major issues facing China and the world next year. The comments by Zhou Xiaochuan, who led the People’s Bank of China (PBOC) between 2002-18, come as Beijing puts up higher barriers to protect the world’s No 2 economy from damaging capital flows and market turbulence, while at the same time stressing the importance of multilateralism. Zhou called on the...
