Rhetoric vs. Reality: China, entrepreneurial capitalism & the Turbo Tax defense
China makes a move to increase the trading flexibility of the yuan. It's reportedly one of the government's strongest moves yet to show the yuan is ready to become a global currency. It also gives banks a new pitch for bonds and other yuan-denominated investments. We'll talk about what developments like this mean for business, the US and China trade-and-currency song and dance, and the global economy. Barbara Hackman Franklin, former US Secretary of Commerce and now adviser on doing business in China, separates business reality from political rhetoric. And speaking of the world economy, it “remains on life support” from central banks. That's what the latest Brookings Institution-Financial Times tracking index finds. So as central banks like the Fed continue to prop up TBTF banks, what’s the cost to true entrepreneurial capitalism in the US? We also discuss a college majors geared towards the expansion of drones in the US, the demand for a Turbo Tax defense, and new Dutch financial regulations involving a bankers’ oath.