The total U.S. national debt exceeded $34 trillion for the first time, a record high, raising concerns about the U.S. economy and debt problems. According to the latest report released by the U.S. Treasury Department, as of January 2 this year, the total U.S. national debt reached $34 trillion, exceeding the previous ** time node. This continued growth trend signals that the United States will face more severe fiscal challenges in the coming years. Both Trump and Biden have borrowed heavily, but debt has grown faster than expected due to the pandemic-induced economic shutdown. In addition, the economy has also pushed up inflation and interest rates, further increasing the cost of servicing debt.
However, despite the fact that the US national debt has reached such a large size, Biden** has not reduced the pace of borrowing, but plans to borrow nearly another $1 trillion by the end of March. Some financial institution analysts believe that this long-term accumulation of debt has become a flashing red warning signal and an important warning for future policymakers in the United States.
While the total US national debt continues to rise, Yellen, as US Treasury secretary, has long turned her attention to China for help. At the celebration of the U.S.-China National Committee last December, she said that Biden wants to manage the U.S.-China economic relationship in a purposeful, prudent and responsible way, and stressed that the United States does not want to "decouple" from China. She actively seeks to establish persistent communication channels in order to deal with issues that arise in a timely manner.
Yellen plans to visit China for the second time this year in a capacity of **, where she will discuss difficult areas of concern and accelerate the pace of U.S.-China cooperation in areas such as climate change and financial markets. This move shows that despite some differences between China and the United States, the two sides are still willing to promote the development of bilateral relations through dialogue and cooperation.
At the same time, however, foreign buyers of U.S. Treasuries, such as China, have continued to reduce their holdings of U.S. Treasuries. According to data released by the U.S. Treasury Department in December, China has sold off U.S. Treasuries for seven consecutive months, while its holdings are also approaching a 14-year low since 2009. This situation has made Yellen more urgent to seek China's support and help.
The U.S. national debt of more than $34 trillion not only means that the United States will face greater economic and political challenges at home, but also poses a new test to the economic relationship between China and the United States. As the world's two largest economies, the economic relationship between China and the United States is crucial to the stability and development of the global economy.
However, in recent years, the economic relationship between China and the United States has been disrupted by a variety of factors, and there are some disputes and political differences between the two sides. Some U.S. policymakers have adopted a series of restrictive measures to sanction and suppress Chinese companies, leading to an escalation of tensions between the two countries. This kind of friction is not only detrimental to the economic development of China and the United States, but also has an adverse impact on the global market.
In the face of the current situation, both China and the United States need to remain calm and rational, resolve differences through dialogue and consultation, and avoid further escalation of the war. At the same time, the two sides should also strengthen cooperation to promote economic recovery and growth. Despite some challenges, the stability and development of the U.S.-China economic relationship is of great significance to the prosperity of both countries and the global economy.
With the U.S. national debt exceeding $34 trillion, Biden** continues to borrow in the face of huge debt. As U.S. Treasury secretary, Yellen has turned her attention to China for help, hoping to resolve the differences and problems between the two sides through strengthened cooperation. However, the current U.S.-China economic relationship faces a number of challenges, including disputes and political differences. Both sides need to remain calm and rational, resolve differences through dialogue and consultation, and promote economic recovery and growth. The stability and development of Sino-US economic relations is of great significance to the prosperity of the two countries and the global economy.