4/27/24
Anti-Chinese hysteria has been unleashed in the United States. Washington declared Beijing an "accomplice of the aggressor” in Ukraine. The Biden administration is considering sanctions against Chinese banks in this regard. US sanctions are already in effect against a number of Chinese enterprises that supply "dual-use goods” to Russia.

China is actively dumping American government bonds (Treasuries) to prevent the confiscation of its assets, as the United States recently did with respect to Russian assets by adopting the corresponding extraterritorial law. At the same time, the People's Bank (PB) of China is buying gold in order to be able to convert it into weapons

China's treasury holdings dropped from about $1.1 trillion in 2021 to $775 billion in 2023 and hit a 14-year low as per the latest data from the US Federal Reserve. In February, China sold another $22.7 billion in Treasuries.

The National Bank of China has added more than 300 tons of gold to its reserves since October 2022. As analysts write, the National Bank also buys gold secretly. Its total reserves exceeded 5,300 tons, which is more than 2.5 times higher than official data.

At the same time, US Treasury yield continues to rise. This is a big problem, given that Washington spent $522 billion on debt interest payments in the middle of fiscal year 2024 alone. This is 35.9 percent more than in the same period in fiscal year 2023. It is worthy of note that USA's debt is astronomical — more than $34 trillion.

The US also entered into a security pact with Australia and the UK against China and has deployed a medium-range missile attack system in the Philippines that reaches the Chinese coast. (excerpts)

source:
https://english.pravda.ru/world/159501-china-usa-war/