"In the first 11 months of 2016, official figures show that foreign currency bank deposits owned by Chinese households rose by almost 32 percent, propelled by the yuan’s recent fall to eight-year lows against the dollar." Bloomberg additionally reports that the total foreign currency outflows are "estimated to have totaled more than $1.5 trillion since the beginning of 2015," as many Chinese seek safety for their savings through U.S., Australian and Hong Kong dollars.
American Bar Association’s decision to give rights award to detained Chinese lawyer worries some members about the group’s work on legal reform in China
The ABA was criticized for pandering to China's government due to a decision in 2015 not to publish a book by a dissident Chinese lawyer, an outcry that led the organization to take a stronger stance this month by choosing to honor a detained rights lawyer, Wang Yu. Some members of the organization worry that the award will offend the Communist Party, putting their efforts to reform China's legal system at risk.
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