美元布局紧急生变！中国拒绝“援助”买家离场，45万亿资产陷困局

Group 1 - The U.S. national debt has surged from $16 trillion in 2013 to over $32 trillion, with interest payments projected to reach nearly $1 trillion in 2024, indicating unsustainable fiscal policies [2][4] - The debt-to-GDP ratio is approaching 130%, which is considered high among developed countries, raising concerns among economists about long-term sustainability [4] - Foreign ownership of U.S. debt has decreased, with China reducing its holdings to $730.7 billion, the lowest since 2008, as geopolitical tensions and currency diversification strategies take precedence [4][6] Group 2 - The overall foreign ownership of U.S. debt has dropped from a peak of 30% to around 23%, with significant reductions from various foreign investors, including the Cayman Islands and European tax havens [7] - U.S. domestic institutions hold over $20 trillion in debt, but this internal transfer does not alleviate the burden of interest payments, which are projected to reach $230.6 billion in 2024 [7][9] - The U.S. housing market is under pressure, with a total housing market value exceeding $55.1 trillion, but new home sales are declining due to high mortgage rates, which remain elevated compared to pre-pandemic levels [9][11] Group 3 - The collapse of Silicon Valley Bank (SVB) in March 2023 highlighted vulnerabilities in the banking system, leading to tighter credit conditions and impacting the real estate sector [11][13] - Economic indicators show a mixed picture for the U.S., with a GDP contraction of 0.5% in Q1 2025, followed by a rebound of 3.8% in Q2, but persistent inflation and high unemployment rates remain concerns [13][15] - The IMF projects global growth at 2.8%, with emerging markets, particularly China, expected to drive a significant portion of this growth, while the U.S. faces challenges from high debt and low growth [15][17] Group 4 - The trend of decoupling from the U.S. dollar is evident, with countries reassessing their investments in U.S. assets, leading to a potential restructuring of global supply chains [17] - The overall investment climate in the U.S. is weakening, with forecasts indicating that the economic recovery may not be sustainable, and inflation pressures continue to pose risks [17]