China has run a persistent trade surplus with the US [1] so naturally it's accumulated a lot of USD, about $3T [2]. And there's only one place to keep that much

China has run a persistent trade surplus with the US [1] so naturally it's accumulated a lot of USD, about $3T [2]. And there's only one place to keep that much money safely which is US Treasury i.e., lend it back to the US. [1] https://www.census.gov/foreign-trade/balance/c5700.html https://www.census.gov/foreign-trade/balance/c5700.html [2] https://tradingeconomics.com/china/foreign-exchange-reserves https://tradingeconomics.com/china/foreign-exchange-reserves