China has stepped up capital controls as the trade war escalates. Photo: Kyodo

Why is US dollar access so restrained in China as trade war rages on?

  • Foreign financial institutions increasingly reluctant to lend US dollars to Chinese banks given worries about financial risks amid the trade war
  • China holding onto US dollars by increasingly restricting business and individual transfers out of the country
Topic |   China economy

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China has stepped up capital controls as the trade war escalates. Photo: Kyodo
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Chinese authorities have kept foreign reserves stable at around US$3.1 trillion since burning through almost US$1 trillion between mid-2014 and 2017 to defend the yuan. Photo: Bloomberg

Does China have enough US dollars to survive the US trade war?

  • China’s US$3.1 trillion in foreign exchange reserves may not be sufficient to support a crisis in the economy, analysts say
  • Authorities have kept foreign reserves stable at around US$3.1 trillion since burning through almost US$1 trillion between mid-2014 and 2017 to defend the yuan
Topic |   US-China trade war

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Chinese authorities have kept foreign reserves stable at around US$3.1 trillion since burning through almost US$1 trillion between mid-2014 and 2017 to defend the yuan. Photo: Bloomberg
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