6国增持美国国债，中国停止了对美国国债的购买，中国从全球第一降至第三

Core Viewpoint - The article discusses the increasing U.S. fiscal deficit and the implications of China's decision to stop purchasing U.S. Treasury bonds, highlighting the need for the U.S. to find new major creditors by 2026 [1][18]. Group 1: U.S. Treasury Bonds and Foreign Holdings - As of November 2025, Japan and the UK, among other countries, have significantly increased their holdings of U.S. Treasury bonds, with Japan adding $2.6 billion in a single month, bringing its total to $1.2 trillion, while the UK purchased $10.6 billion, surpassing China to become the second-largest holder at $888.5 billion [5][9]. - China has reduced its holdings of U.S. Treasury bonds for nine consecutive months, dropping to $682.6 billion, down from its previous position as the largest holder [3][5]. - Despite the total foreign holdings of U.S. debt reaching a historical high of $9.36 trillion, this only represents 24.24% of the total U.S. debt of $38.6 trillion, a decrease from 26% [9][21]. Group 2: China's Strategic Shift - China has maintained a strong strategic position by reducing its U.S. Treasury bond holdings to the lowest level since the 2008 financial crisis, with a reduction of $6.1 billion in November 2024 [13][19]. - Concurrently, China has been increasing its gold reserves, which have grown for 14 consecutive months, reaching a total of 74.15 million ounces, indicating a shift towards a more secure asset [13][25]. - The article suggests that China's actions reflect a deliberate strategy to avoid being vulnerable to U.S. monetary policy changes, emphasizing the importance of holding tangible assets over foreign debt [19][25]. Group 3: U.S. Fiscal Challenges - The U.S. fiscal deficit for the first three months of the 2026 fiscal year reached $602 billion, marking the second-highest deficit on record, with a significant increase of $58 billion in December 2025 alone [18][21]. - Interest payments accounted for 20% of total U.S. government expenditures in a short span, highlighting the financial strain and the need for lower interest rates to reduce fiscal costs [21][23]. - The article critiques the reliance on foreign creditors to manage the growing debt, suggesting that this approach only provides temporary relief rather than a sustainable solution [23][25].