The hidden dynamics behind China’s BoP ‘errors and omissions’
Marcello Minenna highlights the possible implications an unaccounted-for £30bn has for the PBoC
Over the past 15 years, China’s balance of payments (BoP) has registered significant amounts in the ‘errors and omissions’ item (figure 1). Over the years, this data has provided much food for thought for the central bank, which is responsible for regulating capital movements and the level of official reserves.
As the name of this item suggests, it should represent a secondary element aimed at recording accounting discrepancies between current and financial account data. For example, if the
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