Workers put together a giant lantern decoration in Chongqing last week to mark the upcoming 70th anniversary of the founding of the People’s Republic of China. The GDP share of both savings and investment in China are due to decline in the coming years. Photo: Reuters
Aidan Yao
Opinion

Opinion

Macroscope by Aidan Yao

Behind the headlines, China’s large current account surpluses are becoming a thing of the past

  • The transformation of China’s balance of payments position will have a significant impact on its economy
  • It’s necessary to understand how its large surpluses came to be, and how, as Beijing seeks to rely less on investment and more on consumption for growth, much smaller surpluses – or even a persistent deficit – may become the norm

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Workers put together a giant lantern decoration in Chongqing last week to mark the upcoming 70th anniversary of the founding of the People’s Republic of China. The GDP share of both savings and investment in China are due to decline in the coming years. Photo: Reuters
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