China caught in a conundrum over economic policy

Central bank governor Yi’s calming message fails to ease market and currency concerns as NIFD warns of ‘financial panic’ in leaked report

• Gordon Watts
• Asia Times

Stay calm and don’t panic.

Sound advice.

But it appears no one is listening to Yi Gang, the People’s Bank of China governor. As fears grow of a trade war between Beijing and Washington, the…

Last week, Yi called for investors to “remain calm” after the benchmark Shanghai Composite Index dropped 3.78%, dipping below the psychological 3,000-point barrier, while the…

Since then, Shanghai…

• China caught in…