一觉醒来，中国发行美元美债！美国以后别想收割世界了

Core Viewpoint - China is set to issue up to $4 billion in U.S. dollar sovereign bonds in early November, signaling a strategic move to enhance its credit standing in comparison to the U.S. [1][4] Group 1: Sovereign Bond Issuance - The issuance of sovereign bonds typically utilizes domestic currency, raising questions about China's decision to issue in dollars despite having substantial foreign reserves [3][4] - China's foreign exchange reserves exceed $3 trillion, and the $4 billion bond issuance is minimal compared to its overall financial strength [4] - The key factor in this issuance is not the amount raised but the willingness of investors to buy the bonds and the conditions under which they are purchased [6][7] Group 2: Credit Comparison with the U.S. - The issuance aims to compare China's creditworthiness with that of the U.S.; if China's bond rates are lower than U.S. Treasury rates, it indicates stronger credit [7][9] - International capital views China's sovereign credit as more reliable and promising than that of the U.S., which could shift capital flows away from the U.S. [9][11] Group 3: Strategic Operations Against Dollar Dominance - China’s issuance of dollar bonds is a strategic move to counter U.S. dollar hegemony, allowing it to lend to countries in need, thereby preventing U.S. financial exploitation [13][16] - By providing financial assistance to countries like Egypt and Congo, China aims to disrupt U.S. influence in these regions [16][17] - The operation also promotes the internationalization of the Renminbi, as repayments can be made in Renminbi rather than dollars [17][19] Group 4: Impact on Global Financial Landscape - The issuance is part of a broader trend of de-dollarization, with many countries moving away from dollar transactions towards local currencies [24][26] - China's ability to issue dollar bonds without needing to address a dollar shortage is unique and reflects its strong economic fundamentals [26][28] - The global financial order is shifting towards a multipolar system, with China's actions contributing to the decline of U.S. dollar dominance [28][30]