(Bloomberg) -- China should explain widening discrepancies in its balance of payments data that are obscuring growing global imbalances, a top US economist...
-- China should explain widening discrepancies in its balance of payments data that are obscuring growing global imbalances, a top US economist said.Hong Kong’s Arts Hub Turns to Selling Land to Stay Afloat
The gap is contentious as countries seek to gauge the true size of China’s trade surplus as they accuse Beijing of unfairly subsidizing exports to drive growth. The US Treasury in June called for clarifications from Beijing on the difference. Taken together, Setser estimates that China’s external surplus is closer to $700 billion, more than double the reported current account surplus of $253 billion last year.
But such a change in methodology should also entail corresponding adjustments in other parts of the BoP data, such as the multinationals’ profits generated in China. That hasn’t happened, Setser said.
Bloomberg Trade Surplus Council On Foreign Relations China State Administration Of Foreign Exchange Balance Of Payments US Economist
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