美国承认，特朗普对华战略误判，美媒发现：中国在抛售美债

Core Insights - The article highlights the dual crisis in the U.S. political and economic landscape, particularly focusing on China's significant reduction of U.S. Treasury holdings and the increase in its gold reserves, which reflects a strategic shift in response to external risks [1][5]. Group 1: U.S. Treasury Holdings and Economic Impact - As of July 2025, China's holdings of U.S. Treasury bonds have dropped to $730.7 billion, the lowest since 2009, with a reduction of $25.7 billion in just one month [3]. - In 2022, China reduced its U.S. Treasury holdings by $173.2 billion, followed by $50.8 billion in 2023 and $57.3 billion in 2024, indicating a trend of accelerated divestment [3]. - The U.S. Congressional Budget Office projects a potential increase of $2.8 trillion in federal deficits over the next decade, with existing debt reaching $37 trillion, raising concerns about fiscal sustainability [5]. Group 2: Political Stalemate and Public Perception - The U.S. Senate's temporary budget proposal failed to secure the necessary votes, risking a government shutdown, which has occurred almost annually since 1977 due to budgetary issues [5][7]. - A previous shutdown in 2019 resulted in an economic loss of $11 billion and a 0.2% reduction in GDP growth, highlighting the tangible economic consequences of political dysfunction [7]. - Public sentiment reflects a growing acceptance of government dysfunction, with 64% of Americans viewing it as the "new normal" [7]. Group 3: U.S.-China Relations and Strategic Adjustments - The article critiques the U.S. approach to China, suggesting that the perception of China as a challenger has led to misguided policies, including trade wars and technology restrictions, which have not achieved their intended outcomes [9]. - China's ongoing adjustments in its foreign exchange reserves, including the reduction of U.S. Treasury holdings and the increase in gold reserves, are seen as rational responses to external uncertainties [11]. - The trend of de-dollarization among U.S. allies and the increasing sensitivity of global financial markets to U.S.-China relations indicate a shift in the international monetary system [11][13]. Group 4: Future Implications and Global Dynamics - The ongoing political and economic crises in the U.S. are reshaping global financial and geopolitical landscapes, with China's strategic adjustments significantly influencing these dynamics [15]. - The article suggests that the future of U.S.-China relations cannot be simply defined by confrontation or cooperation, as each policy change and data point could serve as a turning point in the evolving global order [15].