Why Bitcoin Can Flourish in China

Why Bitcoin Can Flourish in China

Aiga Gosh is researcher in international law at the China University of Political Science & Law. In this article, she briefly examines China's economic history, its currency controls and the rise of bitcoin in the country. China's monetary policy and currency has largely been in mess for a long time. Only in 1994 did China manage to set a unified, official exchange rate abandoning a dual system, with both a fixed and a market rate existing side-by-side. It has tightly controlled the flow of capital across its border, which has enabled Chinese authorities to steer the economy and control....


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