- 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.
I don’t get it either to be honest, it’s just so utterly self destructive.
Its a pitiful attempt at protecting it’s incompetent industries, what makes it funny is that actually competitive american industries are gonna lose the Chinese market because of this 😂
To save their weak they’re sacrificing the strong.