Describe three important features of the Chinese economy in the global context using the 2020 BOP table for China and the US. Your answer should cover both the current account (CA) and financial account (FA), among other items in the table. While this question is on China, please use the US as a reference to highlight similarities and differences between the two economies. Be specific with your supporting evidence.

Balance of Payment for US and China in 2020 {million 5) US China 2020 2020 Current Account {CA} -515,03? 2?3,330 Goods, credit [exports] 1,423,?33 2,43?,155 Goods, debit [imports] 2,350,324 1,332,155 Balance on goods -322,025 515,000 Services, credit {exports} 705,547 235,203 Services, debit [imports] 450,300 330,535 Balance on services 245,34? -145,32? Primary income, credit 35?,353 241,531 Primary income, debit 753,335 345,354 Secondary income, credit 155,344 3?,50? 5econdary income, debit 234,215 23,12? Capital Account {HA} -5,437 4'? Financial Account [FA] -551,353 ??,?53 Direct investment, assets 311,532 103,322 Direct investment, liabilities 211,233 212,4?5 Portfolio investment, assets 220,024 15?,333 Portfolio investment, liabilities ?10,151 254,552 Other investment, assets 253,532 314,155 Other investment, liabilities 535,073 5?,333 Net errors and omissions -31,417 -153,134 Reserves Account [RA] 3,353 23,011 SDUFDE: IMF