De-Dollarization: China Dumps $23 Billion Worth of US Dollars
China is making big moves to advance the de-dollarization agenda and is dumping billions of US dollars and Treasuries. The Xi Jinping administration is fighting tooth and nail against Trump’s tariffs by imposing equal tariffs on the US. The Communist nation raised tariffs to 125% on Friday in the latest escalation of the ongoing trade wars. The reciprocal tariffs went from 84% to 125%, and Beijing made it clear that they won’t go any higher. Also Read: De-Dollarization: Elon Musk Warns On The Future Of The US Dollar The latest data indicates that China has dumped $22.7 billion worth of US dollars and Treasury bonds and is consistently decreasing its holdings. The government is slowly yet steadily getting rid of all US debts and remaining free from market fluctuations stemming from the American economy. The dumping of the US dollars and Treasury bonds furthers the de-dollarization agenda making the US economy feel the heat. Source: US Treasury Department Also Read: De-Dollari...