In 1998, Chinas current account had a surplus of $29.3 billion, its capital account had a zero
Question:
In 1998, China’s current account had a surplus of $29.3 billion, its capital account had a zero balance, its financial account aside from official reserves had a deficit of $6.3 billion, and its official reserves increased by $6.2 billion.
a. What do these figures tell you about China’s errors and omissions?
b. What might account for these errors and omissions?
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a Absent errors and omissions the sum of the currentaccount capitalaccount financialaccou...View the full answer
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Related Book For 
Foundations Of Multinational Financial Management
ISBN: 9780470128954
6th Edition
Authors: Alan C Shapiro, Atulya Sarin
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