【本文摘要】 Ironically, even though renminbi is still not a fully convertible currency, ways for the international hot money to enter China can be many. For the nation has long been in foreign trade and direct investment business despite its seemingly heavier exchange control than other economies. Money comes and goes in large volumes on a daily basis.
BEIJING, May 13 -- All developing countries need foreign investment to develop. That is the plain truth.
But only the bigger, and more rapidly growing developing economies can attract foreign investment because those who own the money can see in those economies opportunities of quick returns, whether or not they truly exist.
That is why the bigger developing economies also tend to be exposed to a higher risk of financial turmoil if they somehow hold "too much" foreign investment - meaning more than what they could handle at a given time. Economic officials in Beijing may be asking themselves whether China will be the next economy to see some wild ups and downs of this sort.
In fact, concerns were expressed quite openly by officials at the recent high-level conferences on the monitoring and, if possible, management of the so-called hot money, or investment funds mainly seeking a profit from buying some assets only to sell them immediately.
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