The growth of Chinese tourism has helped shrink China’s overall current account balance with the rest of the world to almost zero. Photo: AFP The growth of Chinese tourism has helped shrink China’s overall current account balance with the rest of the world to almost zero. Photo: AFP
The growth of Chinese tourism has helped shrink China’s overall current account balance with the rest of the world to almost zero. Photo: AFP
Tom Holland
Opinion

Opinion

Abacus by Tom Holland

The truth about China’s economy that Trump won’t get: there is no surplus

  • A major economic shift has taken place which has all but eliminated the structural surplus in China’s current account
  • And it’s good news for the global economy, even if Trump – and most other observers – are struggling to see it

Tom Holland
Tom Holland

Updated: 2:59pm, 21 Jan, 2019

Why you can trust SCMP
The growth of Chinese tourism has helped shrink China’s overall current account balance with the rest of the world to almost zero. Photo: AFP The growth of Chinese tourism has helped shrink China’s overall current account balance with the rest of the world to almost zero. Photo: AFP
The growth of Chinese tourism has helped shrink China’s overall current account balance with the rest of the world to almost zero. Photo: AFP
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Tom Holland

Tom Holland

Tom Holland is a former SCMP staffer who has been writing about Asian affairs for more than 25 years