Friday October 30, 2020

Beijing’s excess cash causes headaches

China’s foreign exchange reserves are set to top $1 trillion this month, the largest foreign reserve in the world and an extraordinary amount for a country that is still developing.

4th November, 2006

China’s foreign exchange reserves are set to top $1 trillion this month, the largest foreign reserve in the world and an extraordinary amount for a country that is still developing.

The Asian giant’s central bank announced that, on October 1, it held $987 billion in foreign reserves. That amount is growing by $18 billion a month.

This is far more than is needed as a cushion against the effects of the currency exchange market. The...

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