为什么东方会发行美元债券？俄媒：知道美债或许是一个永远还不上的坑后，东方想出新办法

Core Insights - A significant move in the financial sector involves an economy issuing dollar-denominated bonds in an international financial hub, amidst rising debt levels of a major country, leading to concerns among dollar reserve-holding economies about investing in U.S. Treasuries [1][3] - This new bond issuance provides an alternative for economies hesitant to invest directly in U.S. debt, allowing them to acquire dollar reserves for various purposes, including purchasing goods and supporting economies facing dollar shortages [3][4] - The unique repayment options for bondholders, including receiving dollars, local currency, or commodities, create a distinctive funding cycle that enhances the international standing of the issuer's local currency [4][6] Summary by Sections - Debt Concerns: A major country's debt has reached alarming levels, forcing its government to borrow new debt to repay old debt, raising concerns for dollar reserve-holding economies [1] - New Investment Opportunities: Economies with good credit are now able to issue dollar bonds, providing a new investment avenue for those wary of U.S. Treasuries [3] - Funding Cycle: The repayment flexibility for bondholders fosters a more efficient flow of funds among global economies and elevates the issuer's currency status [4] - Triangular Funding Model: This model illustrates a scenario where one economy, lacking dollars to repay debts to a major country, borrows dollars from another economy with ample reserves, creating a circular flow of resources [6]