Don't Look Now, But China's Rich

China's trillion dollar surplus
In November China will achieve a new milestone in its economic development when its total foreign exchange reserves reach $1 trillion.

As of 1 October, China's central bank announced that its reserves were $987bn - and they are growing by $18bn each month.

That sum is the largest holding of foreign exchange reserves in the world - and more than the annual value of economic activity in all but a handful of the world's big economies.

The huge surplus is a product of China's success as an exporter to the world.

China sells the world more than $100bn yearly in goods than it buys, with the imbalance especially marked with the US.

As a result, China receives more and more foreign currency each year, which it puts in its reserves.

But China's currency reserves are now so large that some economists fear they will unbalance the entire global economy.