XPost: alt.politics.elections, alt.politics.trump, alt.fan.rush-limbaugh   
   XPost: talk.politics.guns, sac.politics   
   From: remailer@domain.invalid   
      
   The world’s second-largest economy is steadily unloading billions of dollars   
   in US Treasuries.   
      
   New data from the US Treasury Department shows China pared its Treasury   
   holdings from $816.3 billion in December of last year to $767.4 billion in   
   March.   
      
   That’s a quarterly decrease of $48.90 billion.   
      
   The chief Asia foreign-exchange and rates strategist at Bloomberg   
   Intelligence, Stephen Chiu, says a clear trend is underway.   
      
   “As China is selling both despite the fact that we are closer to a Fed   
   rate-cut cycle, there should be a clear intention of diversifying away from   
   US dollar holdings.”   
      
   The drop in China’s ownership of US bonds comes as former International   
   Monetary Fund (IMF) deputy director Desmond Lachman warns that a fresh trade   
   war between the two largest economies is brewing.   
      
   In a post on the Washington-based think tank American Enterprise Institute,   
   Lachman says that both President Biden and former President Trump are   
   drumming up “punitive import tariffs” against China.   
      
   “In addition to a 100% import tariff on Chinese electrical vehicles, Biden   
   announced that the U.S. will triple import tariffs on Chinese steel and   
   aluminum, and double import tariffs on Chinese semiconductors and solar   
   cells.   
      
   Not to be outdone, former President Donald Trump is indicating that if he is   
   elected again as president, he will increase tariffs on Chinese electrical   
   vehicles to 200% and will impose a 10% tariff on all U.S. imports.”   
      
   According to Lachman, the increased import tariffs will likely prompt China   
   to retaliate, leading to an escalation that would hurt both nations. Should   
   a full-blown trade war materialize, Lachman warns that it will add   
   inflationary pressure in the US as Chinese companies increase prices to   
   cover the additional costs of entering the US market.   
      
   “The Federal Reserve is already finding inflation unexpectedly resistant to   
   its interest-rate increases. A new trade war would only further delay the   
   start of a Fed rate-cutting cycle, depriving the country of a boost to   
   growth.”   
      
   https://dailyhodl.com/2024/05/19/china-sells-48900000000-in-us-treasuries-   
   in-one-quarter-as-former-imf-official-warns-the-worlds-two-largest-   
   economies-are-heading-for-a-massive-new-trade-war/   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)