The Weak Spot in China's $3.3 Trillion Foreign Reserve Stockpile

  • Reserves-to-M2 ratio has declined to lowest since 2004
  • Capital outflows close to $1 trillion in year through November

How China's FX Reserves Impact Global Markets

By almost all measures, China’s $3.3 trillion foreign reserves, the world’s largest, look formidable. Except one.

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