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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.

https://archive.ph/6f6XN

  • Tankiedesantski [he/him]@hexbear.netEnglish
    11·
    1 month ago

    Agreed. If you look at what’s left of the US industrial capitalist class - Musk, Tim Cook, etc., they’re still very much trying to keep the supply lines open and relationships good. But such is America now that even the industrial capitalists can’t compete against the alliance of the finance capitalists and the MIC.