美债会爆发危机吗？如何解？为什么对美国来说关税那么重要？

Group 1 - The disparity in interest rates between China and the US is highlighted, with China's rates at 1.5% attracting significant interest, while US 5% bonds are largely ignored [1][3] - The recent auction of 20-year US Treasury bonds was poorly received, leading to a sharp drop in prices and a spike in yields, surpassing 5.1% [3][8] - China's banks have been lowering deposit rates to stimulate economic activity, with various rates adjusted downwards, indicating a contrasting monetary policy approach compared to the US [6][13] Group 2 - The US faces a critical point regarding its debt, with a significant portion of federal revenue allocated to interest payments, which is projected to be around $1.13 trillion for the 2024 fiscal year, accounting for approximately 23% of total revenue [14][18] - The US government's approach to managing debt includes increasing trade tariffs as a means to generate revenue, reflecting a strategy to alleviate debt burdens without raising domestic taxes significantly [22][24] - Concerns about the credibility of US debt have led to broader market implications, affecting not just Treasury prices but also equities and the dollar, indicating a potential liquidity crisis if confidence erodes further [21][25]