Many countries are rushing to sell US bonds as China might be threatening to dump US bonds. Experts are weighing how the situation would impact Vietnam’s development. US-China trade relations have witnessed increasing tensions recently China was reported to have sold about $3 billion US treasury bonds so far. The country’s net selling of US bonds has been running for a month now, triggering concerns that China might be “dumping US bonds” as a weapon amidst escalating US-China trade tensions. Economists assumed that it would not be a big concern if other countries started selling-off US bonds. However, if China, that currently holds nearly $1.2 trillion worth of US bonds, started dumping bonds, it could cast tremendous impacts on the global market. For countries like Vietnam, an economic slump in the US could bring diverse effects, from exchange rate and investment capital flows to trade. The first direct impact would be sharply reducing capital flows into the stock market and soaring exchange rate and foreign loan costs. Economist Vo Tri Thanh, in a recent talk with VIR, assumed that China’s recently selling $3 billion worth of US bonds was just ‘a tactic,’ and the possibility of actually dumping US bonds… Read full this story
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