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China, some debt pay-back, and still many assets…

In China, the risk associated to capital outflows is limited  The country remains one of the biggest net creditor in the world  While the capital account opening process and liberalisation of the exchange rate regime are accompanied by new vulnerabilities for China (volatile capital flows, higher currency risk), its external liquidity and solvency position remains very healthy. The economy at large, and the sovereign in particular, are net external creditors. External assets (which
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