Balance of payments is a systematic record of all economic transactions between residents and non-residents of an economic entity in a certain period of time. He said that the cumulative result of a country's external payments in a certain period of time is a concept of flow.

The general causes of imbalance are as follows:

Economic structure, monetary value and economic cycle of national income

(1) economic cycle. During the period of economic prosperity, due to strong domestic demand, imports increase correspondingly and exports decrease, and the balance of payments may be in deficit. On the contrary, during the economic depression, there may be a surplus in the balance of payments. This kind of balance of payments imbalance caused by economic cycle is called periodic imbalance.

(2) National income. With the change of a country's economic growth rate, the income of Qi people will increase or decrease accordingly.

(3) monetary value. Changes in the actual purchasing power of a country's currency at home will also affect its balance of payments. This kind of balance of payments imbalance caused by the change of currency value is called currency imbalance or price imbalance.

(4) Economic structure. When a country's economic structure is inconsistent or uncoordinated with the economic structure of the whole world, it will be difficult to export its goods and services, and the balance of payments may be in deficit.

How to eliminate the imbalance of international payments

(1) Utilize domestic economic policies. The balance of payments is one of the goals of macro-control, and it is also the main content of macro-control of governments in various countries. Governments can adjust the economic variables that affect the balance of payments through the coordinated use of macro policies such as fiscal policy and monetary policy, thus eliminating the imbalance of the balance of payments. We should pay attention to internal and external balance when implementing domestic economic policy adjustment. When there is a contradiction between domestic economic goals and external equilibrium, internal policies and exchange rate policies should be coordinated.

② Exchange rate policy. Through the policy of depreciation or appreciation of local currency and the choice of exchange rate system, the balance between current account and capital account is affected, and then the balance of payments tends to be balanced. However, in the actual implementation of exchange rate policy, it is often restricted by Robinson-Lerner condition, so it should be supplemented by administrative means such as foreign exchange control or trade control.

③ Balance the balance of payments through international financing. The short-term imbalance of international payments can be solved by financing international and regional international monetary funds and financing in the international financial market.

④ Strengthen international coordination. Countries can take some effective measures to intervene and influence the international market and national economic policies through the International Monetary Fund, the G-7 summit, various world and regional political and economic organizations and regular coordination meetings, and through intergovernmental coordination and communication, so as to eliminate the adverse effects of international balance of payments imbalance and promote national international balance of payments.

⑤ Adjust the balance of payments through the increase or decrease of foreign exchange reserves. The surplus and deficit of a country's foreign exchange reserves will affect a country's money supply structure, which will lead to the imbalance of international payments. Therefore, countries can adjust the balance of payments by increasing or decreasing foreign exchange reserves and adopting neutralization policies without affecting the money supply.

take for example

When there is a short-term balance of payments deficit of $654.38+000 billion, foreign exchange reserves are generally used to make up for it.

At this time, the role of foreign exchange reserves is obvious. On the contrary, when there is a large balance of payments surplus, the role of foreign exchange reserves is not obvious, but it will cause certain financial pressure. At this time, we must take policy measures to change the surplus situation ~