A few years ago, asking a treasurer what their biggest Asian cash management problem was got an immediate response: "trapped cash" – and by that they meant China. The problem became more acute as companies expanded their business in the country, according it a bigger proportion of their global operations.
Not only was it nigh-on impossible to repatriate money from China to fund overseas entities, but companies could not improve efficiencies in their liquidity management structures because China was excluded from global cash pools.
