China’s $1trn 2015-6 reserve shock remains the benchmark for recent EM’s balance of payments shocks. 2020 was far more widespread,

China’s $1trn 2015-6 reserve shock remains the benchmark for recent EM’s balance of payments shocks. 2020 was far more widespread, but less deep and prolonged. @IIF via @johnauthers
bloomberg.com/opinion/articl… https://t.co/rRvzuzGvgi

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