Professor Ann Lee

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China’s Falling Foreign Reserves

Posted on December 7, 2011 by Ann Lee

China’s government officials have reported that the level of foreign reserves has been falling in China as noted by news agencies such as Bloomberg http://www.businessweek.com/news/2011-12-07/china-s-foreign-reserves-continue-to-fall-ex-pboc-adviser-says.html.  There could be a number of reasons for why this is happening.  First and foremost, it signals that flows of speculators’ capital have been coming out of China rather than going into China.  Most likely, the worries about the crisis in Europe causing another global recession have caused another flight to “safety” which historically has meant that speculators pull money out of emerging markets quickly and park their money in Treasuries.  Another reason for the capital flight could be that speculators fear the implosion of China’s real estate bubble that China bears such as Jim Chanos have been talking up the last two years http://www.charlierose.com/view/interview/10960.  While no one quite knows what the total real estate liabilities are in China’s banking system, speculators would rather act first and ask questions later which has been a common reaction for any news item.  Finally, the drop in reserves could also reflect the slowing exports to developed countries as Europe and the U.S. battle the sluggishness in their economies and China’s active steps to rebalance their economy to one based on domestic consumption.

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US has a global campaign plan against China: Pentagon - Times of India timesofindia.indiatimes.com/w…

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Where will Trump's trade war lead to? I weigh in on the Brian Lehrer show: cuny.tv/show/briantalk…

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5:04 pm · April 12, 2018
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How will US China trade tensions affect New Yorkers? I discuss the issue on the Brian Lehrer show tonight at 8pm EST.

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4:53 pm · April 11, 2018
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Restart The TPP With China In Exchange For "U.S. Belt, U.S. Road" via @Forbes forbes.com/sites/stevefor…

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12:23 pm · April 3, 2018
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What can the world expect from China in the upcoming years? My discussion at the China Institute with Ian Bremmer and Paul Clifford: youtube.com/watch?v=oTbJZd…

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7:53 am · March 25, 2018
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