The road to convertibility is paved with repression
Great excitement followed Beijing's announcement on Monday that it will draw up an "operational plan" this year for deregulating domestic interest rates and making the yuan fully convertible.
A whole legion of analysts reacted by predicting the liberalisation of China's exchange rate during the next couple of years, and full convertibility within five years.
via Business feed http://www.scmp.com/business/article/1232537/road-convertibility-paved-repression