current account surplus

Global markets are volatile: the country's current-account surplus has fallen by more than half from a mighty 8% of GDP in just a year.

They point to the fact that the current account surplus as a proportion of gross domestic product is likely to be much lower this year.

Third, the Japanese current account surplus continued to shake the structure, from the industrial collapse of the debt security foundation.

With large capital inflows and a current account surplus, China's foreign exchange reserves have continued to rise rapidly.

He also said the IMF's forecasts of its current-account surplus have involved 'substantial exaggeration' over time.

China's exchange reserves did not keep up with its current account surplus between July and September.

China will probably not be able to reduce its excessive current account surplus without a revaluation of the renminbi.

This current account surplus has been a thorn in the side of developed economies struggling to rebuild their exports.

China's economy is protected by its current-account surplus and vast reserves, but its banking system would be hurt by an abrupt withdrawal.

The decline in the household saving rate and the current-account surplus would seem to be connected.

"Given the decline in our current account surplus, there is no foundation for a sharp rise in the renminbi, " he said.

Yet its current account surplus makes it a net subtractor of demand from the world economy.

But looking at the size of the current-account surplus is only one way to estimate the degree of undervaluation of the currency.

But its current-account surplus may fall as profligates like the United States and Britain consume less and export more.

Germany gave a hint of the difficulties ahead with its insistence that its current-account surplus wasn't a problem for the global economy.

Russia is running a huge current-account surplus, it is paying off the last of its debt and the rouble has just been made fully convertible.

Its current-account surplus would vanish and it might suffer the same sort of turbulence as Greece did earlier this year.

In the case of Japan, has the appreciation of the yen led to a reduction of the current account surplus?

A bigger current account surplus and a more aggressive monetary policy are necessary conditions for ending the Japanese malaise.

It has an inflation rate of less than 1% and a current-account surplus that has reached 15% of GDP.

"Monetary policy seems to be too loose for the good of China because of the large current account surplus. "

Deliberately weakening a currency while running a strong current account surplus has raised eyebrows in Washington.

Yet China could move today's current account surplus towards deficit, by $300bn a year, at negligible risk.

Since there is so much intra-eurozone trade, a current account surplus in one member naturally means there will be a deficit in another.

What I have found difficult to interpret are the implications of the increasing current account surplus for the economy and the community.

As China's current-account surplus has fallen as a share of GDP, estimates of the required degree of appreciation have become smaller.

If the Chinese would stop running an artificial current account surplus that would be a significant stimulus to the [developed world].

The Chinese current account surplus is far from the only explanation for the US current account deficit.

Each year, with a current account surplus of about 3 per cent of GDP, it adds to its claims on foreign assets.

In this context the sharp narrowing of the current-account surplus to 1. 4% of GDP in the first quarter is nothing to celebrate.

Yet they ignore the biggest imbalance of all: the current-account surplus that planet Earth appears to run with extraterrestrials.

With a rapidly ageing population, it is also right to accumulate savings by running a current-account surplus.

With no current-account surplus, China would no longer be a net purchaser of US government bonds and other foreign securities.

The ratio of current account surplus to GDP, after a notable reduction in 2009, has been declining since the beginning of 2010.

Even yen appreciation appears to be reversing as Japan's collapsing current account surplus reduces the demand for yen.

The Swiss have both a fiscal and a current-account surplus, a low inflation rate and a relatively low debt-to-GDP ratio.

A healthy current-account surplus in the mid-1990s had turned into a big deficit a decade later, a sign that Ireland had become too pricey.

Firstly, the strength of the RMB originated from the current account surplus is a great opportunity to build up foreign currency reserves.

"Excess savings, excess current account surplus is going to get worse, " Wei says.

The IMF has predicted that China's monstrous current account surplus would soon reincarnate itself in an expanded form.

A persistent current-account surplus is a symptom of unbalanced growth, just as a big deficit is.

In Germany, however, the deterioration in the fiscal balance is entirely an offset to a smaller current account surplus.

China has run a current account surplus and a capital account surplus almost uninterruptedly for more than two decades.

This implies a gradual shrinking of the relative size of its current-account surplus.

The economic consequences are global as the excess savings directly impacts China's balance of trade and current account surplus.

To put that in context, China's current account surplus in 2007, at the height of the credit boom, was around 11 per cent of GDP.

Exports to the West did not surge until 2000. The region's current-account surplus actually shrank between 1998 and 2001.

The counterpart of a surplus of savings over investment is a current account surplus.

In contrast, senior US officials strengthened their objections to China's continued large current account surplus and managed exchange rate.

Japan records an increase in its current account surplus, despite a drop for the country's trade surplus.

With high savings and a current-account surplus, China lacks many of the vulnerabilities that toppled Western credit systems in 2008.

Inflation is only 1. 4% and China has a widening current-account surplus, which implies excess supply rather than excess demand.

By exporting savings to the rest of the world, via an artificial current account surplus, China is making all of us poorer.

The bigger the private surplus, the bigger the fiscal deficit or current account surplus must be.

Because of China's substantial current account surplus, policy makers in Brussels and Washington have argued for such a move.

Excessive commodity stockpiling should be excluded from the current account surplus target.

Its current account surplus and strong fiscal position provided the macro policy leeway to make any slowdown strictly temporary.

If domestic spending rises relative to potential output, the current account surplus will diminish automatically.

The IMF is projecting that China will run a current account surplus of $2, 600bn over the next five years.

Besides the current-account surplus, the main pillars of support for Japan's debt load are its cash-rich households and firms.

The analysis indicated some autonomous net outflow of capital, financed in part by the current account surplus.

Japan's current-account surplus rose 26. 1% in July from a year earlier.

'Boosting government spending on the social safety net may effectively reduce China's current account surplus, ' Wang wrote.

Exports are booming, and there should be a current-account surplus this year for the first time in over a decade.

Yet if pressure does increase again, Beijing can point to the sharp drop in its current account surplus.

If a country ran the occasional current account surplus or deficit, it would quickly be neutralised by a stronger or weaker currency.

China's current account surplus, while waning, is still large.

But other economists say it is wrong to define the yuan's fair value by the revaluation required to eliminate the current-account surplus.

The central bank itself highlights risks, including bank loan growth, a large current account surplus and rising inflation pressure.

Thus China's large and rising current-account surplus is seen as hard evidence that the yuan is severely undervalued.

During his time as premier, the current account surplus has more than tripled as a share of GDP.

That has not only generated a huge current account surplus but has contributed two-thirds of Germany's economic growth over the past decade.

The region's combined current account surplus is estimated at almost $302bn for 2006, with China holding 60 per cent of that.

Its foreign-exchange reserves are now four times as large as its short-term foreign debt, and it has a current-account surplus.

Some argue that China's large current-account surplus is incontrovertible proof that the yuan is too cheap.

China is seeking to boost consumption, in part to lower the high savings rate that fuels the contentious current account surplus.

CHINA'S current-account surplus is seen by some as the root cause of the financial crisis.

A strong euro would nicely take care of Germany's persistent current account surplus.

Consequently, Japan's current account surplus would narrow relatively more, or could even fall into deficit.

That is not to say that there will be a sharp drop in China's current-account surplus this year.

The corollary of a cheap currency is a large current-account surplus.

Japan has had a current-account surplus in every year since 1981, because of a surfeit of domestic saving over investment.

During most of the previous economic expansion, Japan's current account surplus rose.

By contrast, South Korea should not have a financing gap, thanks to its expected move back into current-account surplus.

The debate on global imbalances often revolves around China's gigantic current account surplus.

It matters above all in relation to China, which runs the world's largest current account surplus while being its second-largest exporter.

This strategy is one reason why the developing world's current-account surplus exceeded $700 billion in 2008, as measured by the IMF.

The analysis differs if severe market distortions are driving the current-account surplus.

It has nearly $3, 000bn of foreign reserves, a huge current account surplus and the growing likelihood of having to increase food imports.

Second, as Pettis again reminds us, "you cannot run a current account surplus unless you are also a net exporter of capital. "

There aren't many places in the world that are likely to absorb China's projected $400 billion current account surplus.

Yet when China reduces its current account surplus (and diversifies from dollar assets) the effect will be felt in US Treasury markets.

With an expected current account surplus of $187bn this year, the Bundesrepublik should spend more.

Thus, between 2003 and 2006 the country had a cumulative current account surplus of $525bn, together with a $228bn net inflow of FDI.

China's current-account surplus has surged, and Washington's views on the renminbi have hardened.

China's current account surplus equals those of Germany and Japan combined.

China's current-account surplus stood at $102. 3 billion in the third quarter, double the amount from a year earlier and about 7. 2% of GDP.

Foreigners have consistently spent less than their incomes and so ran a current account surplus with the US.

What the global economy needs is for China to grow and for its current account surplus to fall.

They will have to run a much larger trade surplus in the future to maintain a current account surplus.

Other things being equal, the gross savings rate and current account surplus would fall.

German officials reject the most obvious ways of shrinking the current-account surplus.

Behind this was a current account surplus of 8. 5 per cent of GDP and a balance on FDI of 2. 5 per cent.

In 2007, China's current account surplus (mainly trade) reached 11 percent of its economy (gross domestic product).

As a share of GDP, its current-account surplus this year will be bigger than China's.

But as long as China runs a large current-account surplus, it must, by definition be accumulating foreign assets.

The US current account deficit would be reduced, and the Chinese current account surplus would fall.

When wages rise more slowly than productivity, an economy produces more than it can consume, resulting in a current-account surplus.

Japan's large current account surplus gives it room to sell assets and thus bring yen back onshore.

It may work: Latvia now has a current-account surplus as its exports rise.

"Put another way, the emerging world's current account surplus needs to fall, " he says.

That causes China to run a vast current account surplus, the counterpart of which is the equally vast US trade deficit.

China's current account surplus will fall almost half this year, the World Bank predicted yesterday.

China is the most dynamic and solvent emerging country. It also runs the world's largest current account surplus.

Meanwhile, China was investing 11 per cent of GDP in low-yielding foreign assets, via its current account surplus.

s current account surplus will fall almost half this year, the World Bank predicted yesterday.

If Japan's current account surplus increases further it will cause even more instability in the world economy.

First, Switzerland's current-account surplus is forecast to be 8. 7% of GDP this year.

And Japan has a persisent current account surplus, which is a key booster of a currency's strength.

But unless Chinese citizens start to consume more, a large fraction of the Chinese current-account surplus will persist.

For example, it is expected to move back to a small current-account surplus this year and its reserves are much larger.

The falloff in Chinese reserve growth reflects a rise in private capital outflow from China, not a fall in China's current account surplus.

In absolute terms, Germany's current-account surplus is second only to China's.

The fund forecasts that the global current-account surplus will rise to almost $700 billion by 2014.

China's overall current-account surplus, they point out, has soared to around 8% of GDP.

The current account surplus is expected to be 3. 6% this year.

No wonder China is mulling a commitment to keep its current account surplus below 4 per cent of GDP; it is already not far off.

Today, Europe runs a current account surplus.

Conventional wisdom says that a stronger yuan would reduce China's current-account surplus.

even so , china ' s overall current - account surplus is also huge.

China's current account surplus has already shrunk from close to 11 per cent of output in 2007 to about 5 per cent.

Let others worry about the oil price or China's current account surplus.

Before the financial crisis, China was running a current account surplus well above 10 percent of GDP.

China's current account surplus this year is forecast to reach almost 10 per cent of GDP.

The export machine, at its peak in 2008, was running a colossal $426bn current account surplus.

Conventional wisdom says that a stronger yuan would reduce China's current-account surplus. Yet the empirical support for this is weak.

China's current-account surplus has fallen from 11% to an estimated 6% of GDP.

The current account surplus is on track to reach about $400bn this year, more than 10 per cent of gross domestic product.

The aggregate current account surplus of emerging markets is wholly concentrated in China and the oil-exporting nations.

These imbalances include not just the US, but also China's huge current account surplus conveniently invested in US Treasuries.

Yes, China's current account surplus is likely to reach 10 per cent of GDP in 2007.

And thanks to its huge domestic stimulus China added to global demand last year, as its current-account surplus shrank sharply.

It expects China's current-account surplus to double in dollar terms between 2010 and 2014.

Yet, suppose China did indeed expand demand and so shrink its current account surplus.

The region's current-account surplus actually shrank between 1998 and 2001.

The IMF estimates China's current-account surplus will rise to around 8% in 2015.

Its current-account surplus declined sharply between 2008 and 2009, but this year it is rising again.

The alternative would have been to run a bigger current account surplus. But that would have required a weaker exchange rate.

Projections from research firm Dragonomics show China's current-account surplus as a share of GDP dropping by half in the last year to 5%.

Its huge current-account surplus was cut by more than a third as a share of GDP last year, and had seemed likely to shrink further.

Between 1880 and 1914, Britain ran an average current-account surplus of 5% of GDP. In contrast, America today has a deficit of 7% of GDP.

because of china ' s huge current account surplus , the proc has to sell renminbi and buy dollar assets to maintain the currency peg.

Last year, it had a current account surplus of 1. 1 per cent of gross domestic product.

That would mean an aggregate current account surplus of $3, 000bn, (or 7 per cent of GDP).

The current account surplus hit $19. 9 billion in September.

The Chinese current-account surplus in 2008 was 21% of the combined total for surplus countries.

As China could have a current account surplus of $400bn this year, its reserves could expand to $1, 600bn next year.

At 5. 2% of gross domestic product in 2010, the current-account surplus remains well below the double-digit level it touched in 2007.

China's total current-account surplus reached an estimated $250 billion, or 9% of GDP, up from only 1% in 2001.

China's weak renminbi policy therefore not only prevents remedying China's large current account surplus but also reduces Europe's exports.

Its current-account surplus has almost halved to around 6% of GDP from 11% in 2007.

Germany ran a current account surplus of 7. 6 per cent of gross domestic product in 2007.

China's current- account surplus was 7. 1 per cent of gross domestic product in 2005.

China is currently running a 4. 7% current-account surplus, according to the IMF, while the U. S. deficit is 3. 2%.

From a peak of 11 per cent of GDP in 2007, the current account surplus declined to "only" 6 per cent in 2009.

It saves much more than it invests, resulting in a vast current-account surplus, estimated at 8% of GDP last year.

China's current account surplus for 2006 was $249. 9bn, or 9. 5 per cent of GDP, well ahead of consensus predictions 12 months ago.

On the contrary, in the fourth quarter of 2008, China's reserves barely rose, despite a record current-account surplus.

Japan's current account surplus rose 7. 8 per cent in the first half to Y9, 437bn.

At the same time, it has been in current account surplus year after year, 2008 excepted.

This is because the current account surplus countries such as Germany oppose it.

Last year, China ran a current account surplus of nearly 10 per cent of output; Japan's was 4 per cent.

In theory the gap between the two should equal China's current-account surplus, which was 7% of GDP last year.

China's current account surplus was 11. 1 per cent of gross domestic product last year.

Before the crisis, China was running a current account surplus equivalent to 11 per cent of GDP but that dropped to 6. 1 per cent last year.

Fast forward to this decade and Japan's current-account surplus was higher than ever, reaching a record 4. 8% of GDP in 2007 (see chart 1).

As recently as 2007, Japan posted a record annual current account surplus of Y24, 800bn.

China gets barracked for its current-account surplus, which was $372 billion last year, according to the IMF.

China's current account surplus has soared, from 3. 6 per cent of gross domestic product in 2004 to 11. 3 per cent last year.

Last week I drew attention to the large and increasing current account surplus that Hong Kong has been running.

For example, China's current-account surplus hit a new record of around 8% of GDP last year.

The regional current account surplus was a record 5. 3 per cent of GDP last year.

Hong Kong is currently enjoying a record current account surplus, produced by the rapid growth in exports and inbound tourism.

Equilibrium Condition and Development Policy Selecting of Changing the Current Account Surplus of China

Germany's current-account surplus ($135 billion in 2009) is less than half the size of China's ($297 billion) in dollar terms;