Par balkis | 0. 03 never 2025 to 09:57
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China discreetly accelerates its strategy of Reorientation of its exchange reservesestimated at 3.200 billion dollarsby drastically reducing his Investments in American treasury bills for profit gold and alternative assets deemed less vulnerable to Washington’s political pressures.
A strategic evolution revealed by the Financial Times and confirmed by the latest American financial data.
A 27 % drop in treasury bills in two years
Between January 2022 and December 2024, China has reduced its assets to 27 %US Treasury Buildings, reaching $ 759 billionaccording to official American statistics. For comparison, between 2015 and 2022, this drop had only been 17 %, illustrating a clear acceleration of Chinese dedollarization.
Instead of a massive sale that could have cause the instability of the financial marketsBeijing opted for a so -called strategy «TUBENNǔ»in other words a “prudent walk on a stiff rope”. This method consists of Balance yield, liquidity and securitywhile preparing Chinese institutions for a potentially conflictual economic environment with the United States. Order is gaining importance in Chinese reserves
The other pillar of this strategy is based on The strengthening of gold reserves. Since the end of 2022, The Banque Populaire de China has increased its 18 % gold purchasespass the part of the precious metal in its reserves to 6 %, against only 2 % a few years ago.
According to James Steelanalyst in HSBC, it is a “moderate, regular, but extremely well thought out” policy, aimed at Reduce dependence on the US dollar while consolidating the long -term stability of Chinese reserves.
The refuge of American semi-government assets
In parallel, China has increased its positions in The obligations of Fannie Mae and Freddie Mactwo American parapublic institutions specializing in mortgage loans. Their titles are perceived as more discreet but always liquid alternatives to treasury bills.
Between 2018 and 2020, China has increased its investments in these assets by 60 %, reaching $ 261 billion.
Anticipation of sanctions: a lesson from Moscow
This cautious realignment occurs in an uncertain geopolitical context. The Russian example – whose reserves in dollars have been frosts by Western powers in 2022 Following the war in Ukraine – remains Live in the minds of Chinese decision -makers. A study by Tsinghua University published in 2024 summed up:
“The freezing of Russian assets demonstrates American financial hegemony. China must learn from it. »»
Limits to diversification
However, votes within the Chinese apparatus call to caution in the face of this reallocation strategy. Eswar Prasadeconomist at Cornell University, believes that The alternatives really credible to treasury bills remain rareespecially in terms of size and safety.
Some Chinese officials recognize that it may be necessary to sacrifice a share of return for the benefit of securityin the event of a harder political or commercial confrontation with Washington.0
Thus, China continues a methodical and geopolitically motivated transformation of its reserve strategy. Without brutal rupture, but with an increasing determinationBeijing hears Reduce exposure to a monetary system dominated by the United Statesby betting on The stability of gold, the prudent diversification of assets and resilience in the event of a global monetary conflict.
A silent turn but which could have a lasting impact on international financial balances.
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US Treasury, China, Financial Diversification, Fannie MAE, Freddie Mac, Trade War, Gold, exchange reserves, Safe, American sanctions, monetary strategy China
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