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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (6411)	9/14/1998 10:52:00 AM
From: tom	Read Replies (2) \| Respond to of 9980

Just a post in case anyone took Chinese economic data seriously... What's wrong with the following picture? Fact 1. For the first 8 months of 1998 the trade surplus was US$31.4bn, up 23% on a very strong 1997 Fact 2. FDI flows are strong Fact 3. Foreign reserves have not risen since since the end of 1997! Why haven't foreign exchange reserves risen? Am I being cynical or has the fact that errors and omissions in the Chinese Balance of Payments has risen from US$25bn in 1997 to US$60bn in 1998 got something to do with it? Or have they just spent the money defending the RMB? Or do they just make the numbers up?