A king’s ransom
HOME > PAST ISSUE > PERSPECTIVE [Premium content]November 2007
Fueled by foreign exchange reserves, Chinese sovereign investment is going to make a big splash
There is historically no precedent for China’s export growth or for its rate of foreign exchange accumulation. In 2007, China will surpass the US as the world’s second-largest exporter, and in 2008, it will surpass Germany, the largest. By the end of September, China had exported nearly US$900 billion in goods.
Just 30 years ago, China was entirely disengaged from the global trading system, as Japan was flexing its trade muscles, accumulating foreign exchange and ...
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