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I don't read the definition to include FDI, only open market purchases of foreign currency by the foreign currency reserve.

If the definition is as broad as you read it, it's completely redundant because surpluses must be recycled by accounting identity. So anybody who fits the foreign surplus criterion would automatically, by accounting identity, fit that broader interpretation of the foreign currency purchasing criterion.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Feb 4th, 2017 at 11:14:17 AM EST
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