News Snapshot:
China's President Xi Jinping attends a meeting with Malaysia's Prime Minister Najib Razak at Diaoyutai State Guesthouse, in Beijing, China, November 3, 2016. REUTERS/Jason Lee China has more foreign exchange reserves than reported, a former Treasury official wrote. An additional $3 trillion is hidden in "shadow reserves," such as state commercial and policy banks. "Not everything that China does in the market now shows up in the PBoC's balance sheet." Half of China's currency reserves are "hidden," a situation that may add risks to the global economy down the road, former Treasury Department official Brad Setser wrote. While the country's...
