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Text丨 Small sei
Editor丨 Small sei
In the past year, the debt of all countries in the world has been growing wildly, including China.
As a major economic power in the world, the United States has a debt of more than 30 trillion yuan, and Japan has a debt of nearly 9 trillion yuan.
So is China's government debt as much as that of the United States and Japan? Where are China's national bonds spent?
U.S. debt
This year, the cumulative debt of the United States has reached $34 trillion, which is also a record high, and it will only get higher in the future.
"U.S. Treasury Interest Becomes Astronomical: $89 Billion in Interest Payments in March Alone, $2 Million Pops Up Every Minute!" 》 Finance Associated Press 2024-05-07 09:17
Spread the $34 trillion debt of the United States evenly among every American, and the United States, whether a child or an adult, has a debt of $100,000 on his head.
Although the United States is still the world's largest country on the surface, its economy is actually under great pressure, and under the influence of huge debts, domestic inflation has already appeared.
You must know that the interest on the debt of the United States alone is as high as about $2 million per minute, and it needs to pay 1.3 trillion yuan in interest every year, accounting for one-third of its income, and this debt can be said to be difficult to repay.
The U.S. government's revenues have been declining and its fiscal deficit has been rising, but the U.S. has not stopped issuing U.S. bonds.
However, when the United States itself is under economic pressure, it does not think about how to solve it, but wants to use the hegemony of the dollar to harvest the economies of other countries and transfer its own crisis to the world.
The United States has used the hegemony of the dollar to harvest the world's economy for a long time, and we can see that the United States often prints dollar money and flows into the world.
For example, the usual price of oil is 100 US dollars, and when the United States prints more dollars to the market, there will be more dollars, and the amount of oil will not change, and the price of oil will double.
But for the United States, this has no effect, for other countries, the purchasing power of the dollar is reduced, they can only buy half of it with a hundred dollars, but for the United States, the remaining half is taken by themselves.
The United States will also use the dollar to raise interest rates and cut interest rates to harvest the world, and when the dollar cuts interest rates, it will flow to the whole world, and some developing countries are willing to borrow money to increase their debts in order to develop their own countries.
At this time, the United States will enjoy the dividends of other countries' economic development, and at this time, the United States will let the dollar raise interest rates, and then your country's money will definitely depreciate, but when you owe the United States debts, you must use dollars to repay, and your country's inflation will intensify, and the economy will also usher in collapse.
When the US dollar raises interest rates, some countries and enterprises have the possibility of bankruptcy due to the increase in debt, and the United States can acquire the superior assets at a low price because of the bankruptcy of the capital chain because of the interest rate hike.
And in the face of debt, the United States will also harvest the world by printing dollars, because of the problem of dollar hegemony, many countries are dependent on the dollar, so if the dollar has problems, countries that rely on the dollar will also have problems, and everyone will find a way to save the dollar.
The reason for this is that the hegemony of the dollar in the world is too strong, but now many countries in the world are dissatisfied with the hegemony of the dollar and want to de-dollarize, so the United States is now facing a lot of pressure.
Now the United States has a high debt, and if there is a default, then the credibility of the United States will collapse, and then the United States will have problems, and the status of the world hegemon and the hegemony of the dollar will also be lost.
Japanese debt
Japan's current debt problem is also very serious, according to the data, Japan's total debt has reached 1,286 trillion yuan, which is nearly 9 trillion yuan when converted into US dollars.
"Japan's Total Government Debt Exceeds 1286 Trillion Yen, Hitting a Record High" China Industry Network 2024-02-09 13:59
Although not as much as the United States, Japan is far worse off than the United States, because the economic power of the two countries is not comparable to the importance of their currencies, and Japan's total debt is more than twice the size of its GDP.
Japan's economic situation has also become a big problem this year, and Japan is now the country with the largest holdings of US bonds, so if you want to save your economy, then selling US bonds is a must.
Recently, Japan has indeed begun to sell US bonds on a large scale, and has launched a financial war against the United States, which has also caused the dollar to depreciate.
We must know that Japan, as the younger brother of the United States, absolutely does not dare to oppose the United States in normal times, and now it is bound to encounter a big problem by selling US bonds in disregard of the opposition of the United States.
Even U.S. Treasury Secretary Janet Yellen warned Japan that the U.S. did not allow it. We can no longer sell US bonds and intervene in the foreign exchange market without permission.
But Japan can't care so much now, and the domestic currency has been hit hard by the dollar harvest.
In recent months, Japan's currency has continued to depreciate, and the exchange rate against the US dollar has even fallen to 15 percent, which has also caused serious inflation in Japan.
"The yen fell below 156 against the US dollar" CCTV News 2024-04-26 12:53Beijing
If Japan does not fight back, the domestic economy will collapse in an instant, and Japan's own high debt is a big problem in the current situation.
This, coupled with Japan's increased investment in defense in recent years and the issuance of government bonds to raise its defense budget, has made Japan's situation even worse.
The high debt has also led to a depreciation of the yen and a higher cost of living for the Japanese people, and if not addressed, the Japanese economy could be set back decades again.
So how much is China's debt?
Chinese government bonds
Recently, China's Ministry of Finance announced that China will once again issue ultra-long-term government bonds, and the mainland will issue about 11 trillion yuan of government bonds.
"The Ministry of Finance Announces the Arrangement for the Issuance of Ultra-Long-term Special Treasury Bonds" People's Daily Online 2024-05-14 08:30Beijing
Compared with the United States and Japan, the number of Chinese government bonds is very small, and China's economic situation is also very good, and we do not have any pressure on government bonds.
Financial Market Operation in 2023 "Financial Market Operation in 2023" Chinese government website 2024-01-30 08:30
In addition, most of China's national bonds are used on themselves, such as China's disasters and poor people, all of which require money, and most of our national bonds are also used in these places.
"The mainland will issue additional trillions of national bonds to support post-disaster recovery and reconstruction and improve disaster prevention, mitigation and relief capabilities" China Youth Daily 2023-10-25 12:06
The United States has also been imposing sanctions on China's economy, because China's economic development is so good that the United States already feels threatened.
As a result, the United States has also tried to impose sanctions on China in terms of economy and trade, especially the hegemony of the dollar, to curb China's economic development.
But what they didn't expect was that China withstood the attacks of the United States again and again, and its economic growth rate was even faster than that of the United States.
We also see the disadvantages of the hegemony of the dollar, and now China is also working to de-dollarize and reduce the impact of the hegemony of the dollar on itself.
Now that China has a lot of influence in the world, and the mainland has been selling off US bonds, what we need to do now is to internationalize the renminbi so that the economy can develop better.
The mainland is not as crazy as the United States in the issuance of national bonds, and we have been maintaining a good value, which has no impact on ourselves, and will not go to the point of being unable to repay.
We will not impose economic sanctions on other countries, but help other countries develop, which is what a big country should really do.
From this point of view, the United States and Japan are really not comparable with China, and it is only a big country that can control its own economy and easily deal with economic problems that may arise in the future.
summary
Today's global economy is tightly interconnected, and the amount of debt that a country has depends on its ability to repay it and the country's situation.
However, there are also countries that use national debt to harvest other countries, which is absolutely not allowed, although China also has national debt, but we have the means to effectively control the national debt.
In the future of global economic recovery, the debt problem of every country will improve, and now only the friendly cooperation of all countries can make the economy better, and human development will also take a greater step.
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