This week, a frisson passed through Treasury markets when it emerged that China has been selling US government bonds. These sales were not huge — a mere $20.5bn in March — nor were they made with accompanying public threats. But in the current protectionist climate, the news left investors pondering two unnerving questions. Could the current trade war turn into a capital and currency war? And if so, might that undermine the dominance of the US dollar?
上周，當中國近來一直在出售美國政府債券的消息傳出后，美債市場驚起了一陣寒顫。減持規模并不大——3月份僅為205億美元——且該舉動也并非伴隨著公開威脅。但在當前的保護主義氛圍下，該消息讓投資者開始思考兩個令人不安的問題。當前的貿易戰是否會演變成資本和貨幣戰爭？如果是的話，這是否會破壞美元的主導地位？
您已閱讀10%（604字），剩余90%（5453字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。