Reported 8 months ago
The US Treasury has called on China to explain the significant difference between the country's trade surplus reported in customs data and its balance of payments figures. The discrepancy, amounting to a surplus nearly $230 billion larger in 2023 according to customs data, compared to the State Administration of Foreign Exchange's reports, has raised concerns among economists and international organizations. The US Treasury highlighted the need for China to provide quantitive evidence to clarify the widening gap and address the issues contributing to the anomaly in trade numbers.
Source: YAHOO