MCC and yellen's trip to China

On April 4-9, US Treasury Secretary Janet Yellen paid a six-day visit to China, her second visit to China in nine months. China's official communique said that Yellen's visit was agreed by both sides, but did not call it an “invited visit.”

On the eve of Treasury Secretary Yellen’s arrival in China, President Biden took the initiative to have a phone conversation with President Xi, Following Yellen's trip, US Secretary of State Blinken will also visit China.

It can be seen that in the new round of Sino-U.S. diplomatic activities, the U.S. appears very active and urgent. Generally speaking, the country which actively and eagerly wants to visit the other country is more demanding.

So what does the US want from China this time? In fact, it is not difficult to see that the 77-year-old Treasury Secretary Yellen, who rushed to China by special plane, is persuading and threatening China to buy a large number of US Treasury bonds, besides, downing a beer at a pub in China.

As the whole world knows, when the US was in a financial crisis in 2008, it was China that bought 800 billion dollars of US Treasury bonds and finally helped the US through the crisis.

If China is not persuaded this time or is not bullied by the US, to agree to buy US Treasury bonds again, then the US will have a huge fiscal and financial crisis. Because the US can no longer pay the interest on its $35 trillion national debt and the amount of principal that is coming due, Bank of America can no longer support its interest rate of 5.5 . However, what I would like to say here is that if Treasury Secretary Yellen fails to borrow money from China this time, the money promised by the US to the MCC may never arrive. The mighty US might have been masters of economic management with their magic money and economic pseudoscience, but, they are in a mess this time.