China Needs to Reduce US Treasuries Holdings, State Think Tank Says

China needs to further reduce its Treasuries holdings, in part to lessen the potential leverage of Washington over its Asian rival, according to a paper published by a Chinese state think tank.

The vast American assets that China’s authorities hold are “increasingly becoming hostages — hindering us from safeguarding our national sovereignty,” Di Dongsheng, vice-dean of Renmin University’s School of International Studies, wrote in a piece published by a China Institutes of Contemporary International Relations journal. Di also referenced President Xi Jinping’s emphasis on preserving “territorial integrity amid changes unseen in 100 years” in the global backdrop.

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