Fear of hot money was the main reason why China refused to de-peg the RMB from the dollar until July 2005. While China did decide to allow the RMB to appreciate gradually after that, it has relied on capital controls to prevent hot money from flowing in.
Poi la Cina ha deciso di far apprezzare il renminbi gradualmente, pur affidandosi ai controlli sui capitali per prevenire l’ingresso di hot money.