Some outflows from China may have been ‘disguised’ – Fed paper
Current account surplus in recent years may have been higher than official figures suggest
China has been working to reduce global imbalances by cutting its current account surplus in recent years, but the numbers appear to have been distorted by financial flows disguised as real economy numbers, according to a recent Federal Reserve working paper.
Anomalies appear to show up in the “travel” section of the current account, writes author Anna Wong. She looks for discrepancies between source and destination countries, and attempts to model predicted patterns of travel spending based on
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