By Michael Pettis -Originally published at China Financial Markets (Note: This is a follow-up to an article here from May 16 and an updated version of a previously published January 2018 blog post. The original version can be accessed here. ) Suggestions by some Chinese officials that they may reduce their purchases of U.S. Treasury bonds show just how poorly the world understands the balance of payments. Here is what a recent
China Cannot Weaponize Its U.S. Treasury Bonds
China Cannot Weaponize Its U.S. Treasury…
China Cannot Weaponize Its U.S. Treasury Bonds
By Michael Pettis -Originally published at China Financial Markets (Note: This is a follow-up to an article here from May 16 and an updated version of a previously published January 2018 blog post. The original version can be accessed here. ) Suggestions by some Chinese officials that they may reduce their purchases of U.S. Treasury bonds show just how poorly the world understands the balance of payments. Here is what a recent