Behind the forced foreign exchange controls is the goal of making the entire population subsidize these three things:

1. Infrastructure black holes and local government bonds: Many cities or regions have countless ineffective investments. These debts won't explode overnight, but they will rot from within, draining social wealth over the long term like a blood-sucking pump.
2. The incompetence of central and state-owned enterprises: They monopolize core resources but waste them through inefficient operations, becoming stumbling blocks to wealth growth.
3. Administrative redundancies: The enormous government apparatus supporting about 90 million people.
The current controls are diluting the currency within the borders. If measured against the total M2, the exchange rate could easily hit 1:22, and this prolonged pain is an invisible, cross-century inflationary plunder.
Without first removing the poison through bone scraping (elite streamlining, reform of central and state-owned enterprises), opening up free currency exchange could shrink the nation's wealth by about 60%, and continued controls are like boiling a frog in warm water.