Economists polled by Reuters had predicted China’s foreign reserves, which are the largest in the world, would rise by US$2 billion due to anticipation that the United States and China would agree a trade war truce at the G20 summit at the end of June. Photo: AFP
China’s foreign exchange reserves rise faster than expected in June
- The larger-than-expected US$18.2 billion increase comes despite ‘increasing uncertain external factors’, according to the foreign exchange regulator
- China also adds to its gold reserves for a seventh straight month
Topic |
China economy
Economists polled by Reuters had predicted China’s foreign reserves, which are the largest in the world, would rise by US$2 billion due to anticipation that the United States and China would agree a trade war truce at the G20 summit at the end of June. Photo: AFP
The first US Section 301 tariffs on China began on July 6, 2018. Photo: AFP
One year in, US-China trade war is the ‘first sentence of the first chapter’ of a new superpower rivalry
- Donald Trump and Xi Jinping seem increasingly entrenched in their positions, 12 months into their bitter trade war
- Experts describe a ‘chaotic’ year, where widespread use of tariffs has opened a Pandora’s box on what was previously out of bounds in global trade
Topic |
US-China trade war
The first US Section 301 tariffs on China began on July 6, 2018. Photo: AFP