After going through this chapter, you should be able to:
Discuss the structure of balance of payments of a country
Understand the different components of the balance of payments account
Explain the concept of equilibrium and disequilibrium in a country's balance of payments account
Understand the significance of the official reserves account in balance of payments accounting
Be conversant with trends in India's balance of payments account over the years
Fuelled by increasing flows of foreign investment, China's forex reserves, the biggest in the world, have greatly increased over the past few years. They touched an all-time high of USD 2.64 trillion ...