News Analysis
China’s foreign exchange reserves haven’t grown in eight years, while its foreign debt has increased dramatically. The country is on the eve of a financial meltdown as a result of its real estate bubble and massive local debts.
Markets
Opinion
China’s Net Foreign Exchange Falls Sharply
The country is on the eve of a financial meltdown as a result of its real estate bubble and massive local debts.
People hold banners and chant slogans during a protest at the entrance to a branch of China's central bank in Zhengzhou in central China's Henan Province, on July 10, 2022, when four rural banks in the Henan Province stopped allowing customers to withdraw cash since April 2022. Yang/AP Photo
Shawn Lin is a Chinese expatriate living in New Zealand. He has contributed to The Epoch Times since 2009, with a focus on China-related topics.
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