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finance

China's forex reserves larger than those of G7 combined

June 3, 2008 by Nimrod 11 Comments

Today's Xinhua article brings to our attention that China's forex reserves have ballooned to $1.76 trillion as of the end of April. To put this number in perspective: it is about 15% of the US annual economic output. Before people get carried away, allow me to explain what the forex reserves is not: it is definitely not the government's money, so there is no sense in talking … [Read more...] about China's forex reserves larger than those of G7 combined

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