Chris K: April 12, 2014 at 8:11 pm (Quote) A lot of commodity - TopicsExpress

Chris K: April 12, 2014 at 8:11 pm (Quote) A lot of commodity related trade finance from China is either money laundering or contravention of foreign exchange controls. Usually, those involved deposit RMB with a bank in China and then draw on a USD LC from a foreign branch of the same bank in places like……. Singapore! No prizes for guessing why Singapore became such a big commodity trading and finance hub.

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