- cross-posted to:
- worldnews
- worldnews@lemmy.ml
- cross-posted to:
- worldnews
- worldnews@lemmy.ml
China sold a record $53.3 billion of US Treasury and agency bonds in the first quarter of 2024, likely due to escalating trade tensions and a desire to diversify its assets. This move is raising concerns as China is a major holder of US debt and its actions could impact the US economy. Additionally, China has been increasing its gold reserves, potentially as a way to mitigate sanctions risk.
You got it wrong.
US oligarchs are not losing access to China’s market with these tariffs, they have been gradually losing it when Chinese industries started outperforming them. The purpose of the tariffs is closing the US market for China to protect their pitiful monopolies because they can’t compete with chinese industries.