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China's Governor Wang Yi will meet with U.S. Affairs Assistant Jake Sullivan in Thailand, marking a consensus between China and the United States to promote the easing of Sino-US relations through offline high-level contacts. The meeting continued the commitments made at the U.S.-China summit last November, including maintaining strategic communication and responsibly managing the relationship between the two countries. This is of great significance to the world's two largest economies and sends a positive signal to the international community.
The importance of this meeting is not only reflected in Sino-US bilateral relations, but also has a bearing on the stability and development of the global economy. Against the backdrop of the current global economic downturn, all countries are very hopeful that the relationship between China and the United States can get back on track and jointly address the challenges facing the world. The further strengthening of contacts and exchanges between China and the United States is undoubtedly a positive signal for cooperation in various fields and for global peace and stability.
U.S. Treasury Secretary Ye Kai said that the U.S. foreign debt has exceeded $34 trillion, which is frightening. U.S. House of Representatives member John? James went further and pointed out that each person is saddled with an average debt of $100,000 based on the total population of the United States. This figure underscores the seriousness of the U.S. debt problem.
According to expert analysis, in order to repay such a huge debt, the United States may need to spend about one-third of its budget revenue. This means that the fiscal pressure on the United States** will increase further. In addition, the total U.S. debt is climbing and is close to the debt ceiling that the U.S. can afford. The international community generally believes that the US debt problem has become increasingly unsustainable, and even the three major international credit rating agencies have downgraded their assessments of the US sovereign credit rating. This will increase the cost of financing in the United States** and exacerbate the pressure of the US debt crisis.
Yellen has always hoped that by promoting a détente in Sino-US relations, China will help the United States through the debt crisis. She extended an olive branch to China and repeatedly expressed that she did not want to "decouple" from China, demonstrating her willingness to deepen mutual trust and cooperation with China. Yellen said in December that she would visit China again in 2024, indicating that she had already planned her visit to China and was eager to continue to communicate with China and make the relationship more flexible.
Yellen's public statement at this time is undoubtedly in the hope of attracting the attention of the United States, making them realize the urgency of the debt crisis, and arrange for her to visit China as soon as possible. The U.S. debt crisis has posed a serious threat to the United States, and Yellen's urgency is understandable. After all, the United States has such a high debt, and if it is not properly addressed, the consequences will be dire.
The consensus reached between China and the United States to promote the relaxation of relations between the two countries through the China-US long-term meeting is of great significance to the global economy and world peace and stability. Against this backdrop, U.S. Treasury Secretary Ye Kai said that the U.S. debt exceeded $34 trillion, showing the seriousness of the U.S. debt problem. Yellen has always hoped to seek China's cooperation to resolve the debt crisis through the improvement of Sino-US relations. Her remarks also show her eagerness for a trip to China. The world is closely watching the trends in U.S.-China relations and the U.S. debt problem. As a journalist, I will continue to monitor developments in this area and provide readers with timely and accurate coverage.
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