LBX(SH:603883) Sou Hu Cai Jing·2025-10-07 06:40Core Viewpoint - The financial competition between China and the United States has intensified, with both countries resorting to issuing government bonds to bolster their economies amid rising debt levels and inflation concerns [1][5]. Group 1: U.S. Debt Issuance - The U.S. government has been actively issuing bonds as a key method to raise funds, with a notable shift towards auctioning long-term bonds to counteract declining investor confidence in the economy [2][4]. - The Federal Reserve's prolonged high-interest rate policy has led to skepticism regarding the U.S. economic outlook, resulting in a growing preference for short-term bonds among investors [4][5]. - As of now, the total U.S. government debt has reached approximately $34.7 trillion, leading to an estimated per capita debt of around 750,000 RMB for the American population [9]. Group 2: China's Debt Issuance - In May, China's debt market saw the issuance of approximately 68,624.9 billion RMB in various debt instruments, including government bonds, local government bonds, and corporate bonds, aimed at boosting domestic economic confidence [6][12]. - The Chinese government has been more restrained in its debt issuance compared to the U.S., with a per capita debt estimate of about 20,000 RMB, significantly lower than that of the U.S. [9][11]. - The funds raised through China's debt issuance are primarily allocated to domestic infrastructure and development projects, contrasting with the U.S. approach of funding military and financial markets [8][11].