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China Sells Record Sum of US Debt Amid Signs of Diversification
(www.bloomberg.com)
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this post was submitted on 16 May 2024
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Yeah ok so it’s $50bn not a liquidation, sure, but that’s not spare change in anyone’s language.
If the 2nd largest holder of US debt starts selling TENS OF BILLIONS of dollars of that debt, that’s notable.
Sure it’s like 5% of their total holdings or something like that but they’re a major player and that’s a major stake. Pretending this is equivalent to some Reddit bro using Robin Hood is asinine.
China selling this stake isn’t following or responding to the market. It’s defining the market.
No. What's asinine is pretending that China is engaging in some sort of 4d chess move to dedollarize by selling off the majority stake in the US, when what theyre actually doing is diversifying their investment portfolio by selling a stake in US bonds equivalent to like 15% of Luxembourgs holdings or 5% of their own holdings and investing in other securities.
You compared this to Elon Musk dumping his tesla stocks. It's just not.