没有商量的余地，我国继续抛售美债，美新发1.8万亿美债谁敢接盘

Core Viewpoint - China is gradually reducing its holdings of US Treasury bonds, reflecting a shift in its foreign exchange reserve strategy and raising concerns about the implications for global economic stability [1][3][4]. Group 1: China's Actions - China, as the largest holder of US Treasury bonds, has been decreasing its holdings over the past few years, indicating a clear trend despite the decline not being drastic [3][4]. - The reasons for China's decision to sell US Treasuries include declining yields, currency risk associated with a depreciating dollar, and a desire for greater economic independence and strategic signaling to the US [4][6][8]. - The reduction in US Treasury holdings is part of China's broader strategy to diversify its foreign exchange reserves and establish a payment system based on the renminbi [7][10]. Group 2: US Treasury Situation - The US government announced the issuance of $1.8 trillion in new bonds to finance its substantial annual expenditures, which include military spending, social welfare, and infrastructure [6][8]. - The US public debt has surpassed its GDP, raising concerns about the sustainability of its debt levels and the reliability of the US government's creditworthiness [6][8]. - The challenge for the US is finding buyers for the new bonds, as traditional buyers, including foreign central banks and domestic investors, are becoming hesitant due to the increasing debt burden and declining attractiveness of US Treasuries [7][8]. Group 3: Global Implications - The issues surrounding US Treasuries are not only a concern for the US but also for the global economy, as many countries hold significant amounts of US debt in their foreign exchange reserves [7][10]. - There is a trend among various countries to reassess their foreign exchange reserve structures, with some increasing gold reserves and seeking alternative currencies for investment [7][10]. - The ongoing situation with US Treasuries could lead to broader changes in the global financial system, as trust in the US government and the dollar is being reevaluated [10].