Mind the Chinese shift in foreign exchange holdings
By Lim Kim-Hwa
March 2014UTTER ECONOMICS
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It’s no longer in China’s favor to accumulate foreign exchange reserves. With the country’s announcement of a policy shift on this issue, what does this mean for the global and regional economy, and for us?While the tapering of quantitative easing (QE) is the dominant economic issue today, the announcement made by the People’s Bank of China last November that China no longer benefits from further increases to its foreign currency holdings is likely to have significant implications.China’s massive US$3.66tril in...
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