It could also see citizens from other countries able to buy and sell Chinese financial and other assets with far fewer restrictions than are currently in place. And it could see the Chinese currency become one of the world’s most actively traded.
If these things do come to pass, then they would reshape the nature of global capital flows and the international financial system, just as China’s entry into the global trading system reshaped global trade and production. As Australians, we have more than a passing interest in all of this.