If you have $3.8tn in the bank you should be well insulated from the worst economic shocks. For years, China has been working hard at exporting value goods. It has kept its currency at a competitive rate and built a vast portfolio of reserves. It has claims on many countries – led by the US, but including the UK – that have run balance of payments deficits.
如果你在銀行里放著3.8萬億美元，那么即便是發生最嚴重的經濟危機，你也會安然無恙。多年來，中國努力向世界各地出口物美價廉的商品。它將匯率維持在有競爭力的水平，并建立起龐大的外匯儲備。它持有多個國際收支為逆差的國家的債券，這些國家以美國為首，但也包括英國。
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