China’s current-account surplus has vanished
A deficit could remake the financial system, if the government lets it
IN A CONTROL room at the headquarters of Ctrip, China’s largest online travel agency, dozens of fluorescent lines flash every second across a big digital map of the world. Each line represents an international flight sold on Ctrip’s platform. The top destinations on the morning of March 11th, when your correspondent visited, were Seoul, Bangkok and Manila. A live ranking for hotel reservations put Liverpool in first place among European cities, Merseyside’s rough-hewn charms briefly trumping Venice and Barcelona (and apparently benefiting from a special offer).
This article appeared in the Finance & economics section of the print edition under the headline “Package deal”
Finance & economics March 16th 2019
- China’s current-account surplus has vanished
- How to be a rock-star bond investor
- Euro-zone fiscal policy is easing for the first time in a decade
- Wells Fargo takes a pasting, from Congress and a regulator
- Indians may be falling out of love with gold
- The struggle to restore Turkey’s stricken economy
- Is modern monetary theory nutty or essential?
From the March 16th 2019 edition
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