Mrs. He Qinglian is a renowned economist and jornalist from China. Her book “The Trap of China’s Modernization” became a bestseller and an authoritative reference book for China’s economists. The Japanese translation of the book was also highly acclaimed. The updated version is now being translated into English. Because of her explicit views and analyses of China’s economic truth, based mostly on government released data, she is disliked by the authorities and has been forced into exile. She is now staying in the U.S. as a guest researcher.
The following is her comments on the impact of a new regulation regarding money transfer issued by the People’s Bank of China.