Ignore Yellen’s Pleas! China Sells $62 Billion in US Bonds, Adds M Ounces Of Gold Reserves

#china #chinanews #usa #yellen #usdebt #gold ✨✨✨✨✨✨✨✨✨✨✨✨ Among the countries in the world that hold U.S. Treasury bonds, Japan ranks first, holding approximately trillion U.S. debt. China ranks second, holding US$870 billion in US debt. As one of the largest creditors of the United States, China has been reducing its holdings of U.S. Treasury bonds on a large scale in recent years. In the past ten years, nearly $520 billion in U.S. debt has been sold off, and now only about $800 billion in U.S. debt remains, setting a 14-year low. In the first ten months of 2023 alone, China has reduced its holdings of US Treasury bonds by US$62 billion. In order to prevent China from further selling off U.S. Treasury bonds, U.S. Treasury Secretary Janet Yellen made many statements during her visit to China, emphasizing that the United States is unwilling to sever economic ties with China because such an action may have a catastrophic impact on the United States. In addition to reducing its holdings of U.S. Treasury bonds, U.S. media also noticed that China has increased its gold reserves crazily in the past 11 months, with a cumulative increase of million ounces. As of the end of October, China’s gold reserves had reached 71.2 million ounces, making it one of the world’s largest gold buyers. Against this background, Yellen had to turn to China for help, hoping that China could take measures to support the United States, which might help the U.S. debt market avoid the biggest crisis in history. So in today’s video we’re going to talk about why did China sell off so much U.S. Treasuries in just two years? Will China extend a helping hand to the United States? ----------------------------------------------