Where did the US$2 trillion surplus in trade go? How China's Rich Transfer Their Assets？

Recently, the news that China’s US$2 trillion in trade surplus has disappeared sparked concerns all over social media platforms. The problem was first exposed by famous Chinese economic analyst, Lao Man. On 9 February, he posted on Chinese social media Weibo that during the three years of “Zero-COVID” policy from 2020 to 2022, China’s trade surplus would reach US$1.8977 trillion, which is almost the equivalent to the sum of surpluses over a decade from 2010 to 2019. Furthermore, the surplus in 2022 reached US$877.6 billion. However, such a vast surplus was not reflected in the data on foreign exchange reserves nor in the data on foreign exchange accounts and commercial bank settlements. It was as if this amount had vanished into thin air. Theoretically, it is impossible to hide such a large sum of money, even within the global financial market., So where has this US$2 trillion gone?
#China'stradeexports #FleeChina#chinaeconomy #chinacollapse
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[davidapswoude]

China 2019 has almost zero foreign reserves. This triggered the desperate move of lock-in of all Citizens to stop exiting of money. This explains why Chinese passports were not renewed in 2020-2023.

[didierduplantier]

Most likely, they inflated the figures to make themselves look good and it now backfired on them.

[theomnisthour]

Good overview of something China insiders have been aware of for decades, but clueless western investors and financiers seem to still be oblivious to

[arthurmosel]

I can't watch all this, but considering the games they have played with their banks, buildings, and stock markets, exaggeration of their money supply won't surprise me. Corruption and cheating won't surprise me.

[arthurmosel]

The PRC is like the wizard in the Wizard of Oz, a little man hiding behind a screen and fake affects.

[advancetotabletop]

Don’t forget those silver and copper businesses whose metals mysteriously disappeared!

[e-moshe]

This was a good episode for us detailing of methods used to get money out. The modified POS machines is particularly clever, followed by getting foreign merchants to refund expensive luxury purchases to a separate foreign bank amount. I’d heard of the gambling and Bitcoin method, but the ‘Sue yourself through another company’ is mischievous and I had to laugh at the naughty lateral thinking involved.

[Kemet.]

I'm been watching for 3 years... China been slowing selling off.

[scottgordon]

Interesting, especially as the Chinese figures apparently include Taiwan too :-)

[XakyrieEleison]

3:16 wait what, why is Taiwan included in this group?

[justicedemocrat]

I've got a rich chinese friend in university who drives around in a brand new mercedes he said his mom is an actress and his dad is a CCP official in China he said his parents are basically slowly laundering all their money through him what they are doing is basically buying luxury cars for cash and then turning around and refinancing the cars and buying up real estate. He also said that they set up a shell corporation in singapore and transferring all their IP to the shell company for singapore dollars which they are then converting to U.S. dollars. We are studying accounting in Uni so I asked if him why the auditors didn't pick up the IP transfer which they technically have to report to the CCP but he said that the auditors get bribe money to look the other way.

He said it's really rampant in China.

[tommohsien]

To me the most dangerous thing about China is its lack of tranparency financially.Imagine a world where you are able to get loans and there is no one checking your financial claims.Oh, that did happen in the early 2000's where no one was checking mortgage loans and bad loans were sold around the globe.Remember the 2008 financial crisis?

[matweb]

One day the cardboard picture will blow over and the world will realise there's nothing behind it. And that'll be it, everyone will be eating each other to stay alive.

[rachellight]

I wouldn't be surprised if Jack Ma used such an unground bank so if anything happened he wouldn't lose everything.

[nowChain]

Thankyou for having a real person reading the article, it makes a nice change to bland robot voices.

[simpleman]

It’s in the United States. We are waiting for China to go to a gold back currency

[doodoopoopoo]

In the US they had the underground railroad. In China they have underground banks!!!

[budad]

Check under the mattresses of any political parties

[sumiland]

Lei's Real Talk yt channel discussed this topic today.

[TheHuntermj]

Does this count only money flowing into China? I wonder if factory owners and resellers are taking payments to overseas accounts for items sold?