this post was submitted on 11 Jul 2023
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China raises five demands during Yellen’s visit (asiatimes.com)
submitted 1 year ago by yogthos@lemmy.ml to c/worldnews@lemmygrad.ml
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[–] yogthos@lemmy.ml 25 points 1 year ago (3 children)

This bit in particular sums up why US is in a panic right now

“Finding buyers for US debt is the top mission of Yellen. From a medium-and-long-term perspective, China is disposing of US debt,” it says. “Who else will buy it? Japan is the biggest creditor of the US but cannot buy more. The United Kingdom is facing an economic recession and sold $30 billion of US debt in April.”

[–] Rev@lemmygrad.ml 6 points 1 year ago

You've got to love seein them scrambling in panic asking for money to finance their endless debt machine.

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