China doesn’t allow capital outflows from China.
And it doesn’t allow remittances either.
Meanwhile in America tens of billions of dollars are sucked out of the US banking system every year by foreign workers who remit huge amounts of capital out of the US.
This puts a massive strain on the capitalization of US banks.
The Fed has to constantly print money and inject it into the US banking system in order to keep banks solvent.
Sometimes, as was the case in SVB and other Bay Area banks, too many foreign depositors take their money out at once and the bank goes under.
The solution to inflation, money printing, bank runs, etc, is simple: outlaw all remittances.
msn.com/en-us/news/world/investor-mark-mobius-says-he-cannot-get-his-money-out-of-china/ar-AA18gG65
