fredag 19. februar 2016

China’s Foreign Exchange Reserves Dwindling Rapidly

As markets around the world have churned, China has long taken comfort in having what in the financial world amounts to a life preserver: its vast holdings of other countries’ money. A year and a half ago, China held as much as $4 trillion in foreign exchange reserves. The reserves represented a symbolic trophy for China’s leaders, who have described them as the “blood and sweat” of the workers and upheld them as a sign of national strength. Now, as China’s economic growth slows, that sign of national strength is slowly ebbing. Read more