@yogthos@lemmygrad.ml
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yogthos

@yogthos@lemmygrad.ml

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China Sells Record Sum of US Debt Amid Signs of Diversification (www.bloomberg.com)

China sold a record $53.3 billion of US Treasury and agency bonds in the first quarter of 2024, likely due to escalating trade tensions and a desire to diversify its assets. This move is raising concerns as China is a major holder of US debt and its actions could impact the US economy. Additionally, China has been increasing its...

yogthos,
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Ultras are no different from liberals in my opinion. Both favor idealism over materialism. The whole point of scientific socialism is to focus on measurable material improvements that can be realistically achieved. Marxism is not an Utopian ideology. People who reject real progress that existing socialist states make are rejecting the only path towards communism that we’ve found to actually work in practice.

yogthos,
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I’m pretty sure the brain worm that are RFK’s brain could win a debate against Biden at this point.

yogthos,
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Definitely more than DPRK given that UN sanctions against them have just been lifted. Meanwhile, Cuba is sanctioned by US, and most countries aren’t participating. Meanwhile, Russia is being sanctioned by the US and all their vassals.

yogthos,
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Russia vetoed renewed sanctions 🤣

yogthos,
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I think the other important outcome is that the sanctions are a catalyst for a new economy emerging outside western control. Russia is just too important of a resource exporter, and now that countries can’t trade with Russia using SWIFT, we’re seeing now ways of settlement being developed. However, these will not be restricted solely to trading with Russia going forward. Western sanctions on Russia ended up undermining one of the most powerful tools of coercion that the west had at their disposal.

yogthos,
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I doubt it, China can see what’s happening with western economies right now just like everyone else, and it doesn’t take a genius to realize that western advice isn’t worth the paper it’s written on. Furthermore, having savings is obviously important when the global economy is headed for turbulent times, without savings there’s no ability to amortize economic impact of a downturn. So, I think there’s zero chance that China would start cutting their savings rate nw.

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