Finance with Chinese characteristics; Politico on recent elite rumors; Wang-Blinken chat; Nuclear power; Vaping; Moody's
Summary of today’s Essential Eight:
Qiushi - Unswervingly Follow the Path of Financial Development with Chinese Characteristics 坚定不移走中国特色金融发展之路 - Both the New York Times and the South China Morning Post have articles discussing the article in the latest issue of Qiushi titled “Unswervingly Follow the Path of Financial Development with Chinese Characteristics 坚定不移走中国特色金融发展之路” that was written by the Office of the Central Financial Commission and the Central Financial Work Commission. The article is based on Xi’s speech at the recent Central Financial Work Conference, and while short on policy prescriptions it gives a good idea of the direction of the PRC financial system. Among many themes, expect much more Party control, a rejection of much of “Western financial theory”, even more work around risk prevention and mitigation, more focus on finance serving the real economy, and the formation of “an independently controllable and secure financial infrastructure system 自主可控安全的金融基础设施体系”, a p…