China has $3 Trillion of Hidden Currency Reserves

China Has $3 Trillion of ‘Hidden’ Currency Reserves, Setser Says Story by Cormac Mullen • 1h ago (Bloomberg) — China is sitting on a $6 trillion pile of money, half of which is “hidden,” and that presents a new kind of risk to the global economy, according to Brad Setser. A lot of the country’s foreign-exchange reserves don’t show up in the official books of the People’s Bank of China, the former US trade and Treasury official wrote in a report on The China Project, a New York-based news platform. Instead, what can be called “shadow reserves” appear among the assets of entities such…