China: Professor Calls for Tax on Currency Conversions

China Economic Review:  A professor associated with the People’s Bank of China (PBoC) has suggested that China levy a tax on conversions of foreign currencies into renminbi, reported.Dow Jones reports Wang Yong, a professor at the PBoC’s training institute in Zhengzhou, Henan, wrote in an article in the state-run Shanghai Securities News that such a move could help rein in hot money inflows prompted by an appreciating renminbi, relatively high interest rates in China and excessive global liquidity.  Read more at China Economic Review…..