WSJ: Beijing’s Bid for Financial Supremacy
Tue January, 2021, Age: 3 years
China’s economic growth in 2020 significantly outpaced the U.S. and global economies, which suffered recessions amid an ongoing pandemic. There are signs that China is taking advantage of its relative strength to reduce its asset holdings—potentially undermining an already vulnerable U.S. bonds market— while also seeking to replace the U.S. as a preferred destination for foreign capital. China has taken steps to stabilize its sovereign debt offerings, and the current narrative of stable, sustainable Chinese growth is gaining big traction among international investors.