这次美国终于有救了？中方已增持美债，特朗普终于能松口气了

Group 1 - The core viewpoint of the article highlights China's decision to increase its holdings of US Treasury bonds by $23.5 billion in February 2025, which raises questions about its implications for the struggling US economy [1][3] - US Treasury bonds are considered a key pillar of the global financial market, known for their large scale and strong liquidity, but have faced volatility due to rising fiscal deficits and increasing debt burdens [1][3] - The increase in US debt has led to concerns among investors regarding future yields and safety, prompting some countries to reduce their holdings, which has contributed to market instability [1][3] Group 2 - From an asset allocation perspective, despite the volatility, US Treasury bonds remain attractive due to their liquidity and role as a stabilizing asset in investment portfolios [3] - China's substantial foreign exchange reserves necessitate diversified and stable investment channels, making the increase in US Treasury holdings consistent with risk diversification and stable return principles [3] - The close economic ties between China and the US mean that instability in the US economy could have global repercussions, making China's purchase of US bonds significant for maintaining global economic stability [3] Group 3 - The Trump administration's tariff policies have significantly impacted the US economy, leading to a projected economic growth rate of 1.8% in 2025, a downward revision of 0.9 percentage points [5] - Tariff policies have raised costs, disrupted global supply chains, and decreased consumer confidence, contributing to a weakened economic outlook for the US [5] - The increase in US Treasury holdings by China could provide short-term relief to the US government by alleviating financing pressures and supporting public spending, but it does not address the underlying economic issues [6] Group 4 - The ongoing economic competition between China and the US involves trade and technology restrictions, with China responding by diversifying trade partnerships and enhancing domestic innovation [8] - China's strategy regarding US Treasury bonds is driven by its own interests and the need for global economic stability, indicating a flexible approach to its holdings [8] - For the US to overcome its economic challenges, it must move away from unilateral and protectionist policies and collaborate with China and other nations to maintain a stable global economic order [8]