Understanding China’s external imbalances

Yu Yongding

China Economic Journal, 2015, vol. 8, issue 1, 40-54

Abstract: The paper is intended to provide a comprehensive explanation of China’s external imbalances, which are characterized by current account surplus and financial account surplus. The thrust of the paper is that China’s current account surplus is not simply an effect of the savings gap. Rather, it is a result of complicated interactions among various factors in a dynamic fashion. Hence, to keep the current account surplus-to-GDP ratio at a rational level, the implementation of comprehensive policies that address all relevant factors at the same time as well as fundamental restructuring are necessary.

Date: 2015
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DOI: 10.1080/17538963.2015.1001052

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