China sold a record amount of U.S. government bonds in the first quarter of 2024, according to U.S. Treasury data, continuing what many economists believe is a strategic shift away from dollar assets.In the first three months of 2024, China sold $53.3 billion worth of U.S. Treasurys and agency bonds.China's actions come as it rapidly increases its purchases of gold and other commodities, part of a broader strategy to diversify its assets amid rising geopolitical tensions with the U.S.
50 percent, where it has remained since last July, longer than previously expected, due to persistent inflation.Brad Setser, an economist at the New York City-based Council on Foreign Relations think tank, offered a different perspective in an article late last year.He argued that the share of U.S. dollars in China's reserves has been stable since 2015. He cited evidence suggesting the the dollar share in China's reserves had since 2015 been generally stable.
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