中国就历来实行严厉的控制，而巴西则在10月4号将固定收益债券对外国投资人的税率提高到4%，比以前翻了一翻。
China has long applied stringent controls. On October 4th Brazil doubled a tax it charges foreigners on investments in fixed-income securities to 4%.
此举表明中国对外国投资者的态度进一步强硬。
This is a further hardening of Chinese attitudes to foreign investors.
如果中国放松对外国投资者在上海股市交易的控制，并允许国内投资者在境外交易，套利交易会让所有价差不复存在。
If China were to loosen controls on foreign investors trading in Shanghai and on domestic investors trading abroad, any differential could be arbitraged away.
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