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Podcast: Market Depth
Episode: What The Sudden Leadership Shakeup At The People's Bank Of China Is Really About
Description: Over the weekend, the top brass at China’s central bank Yi Gang (PBOC Governor) and Guo Shuqing (PBOC Communist Party Chief) were suddenly removed from their posts after having been reappointed by President Xi Jinping less than four months ago. Meanwhile, PBOC Deputy Governor Pan Gongsheng has been elevated to the role of Party Secretary at PBOC, and is also expected to be named Governor of the PBOC shortly. Pan is also currently the Director of SAFE (State Administration of Foreign Exchange) - the foremost currency management body which oversees China’s massive $3 trillion in foreign exchange reserves. ...