Capital controls to counter Emerging Markets flight

Recently, the governor of the Bank of Japan suggested that China should use capital controls to support its currency. Usually an unspoken tactic, capital controls are openly discussed in an effort to stem unprecedented outflows of capital from emerging markets. Recent estimations amount to $735 billion for the last year, the first of net outflows since 1988. China, Azerbaijan, Nigeria, and Saudi Arabia have all used capital controls in recent weeks to varying degrees of success.

Read more at the Financial Times.