Today, US debt officially surpassed $36 trillion, taking only three months to rise from $35 trillion to $36 trillion, adding $1 trillion, equivalent to 7.25 trillion RMB. Our debt reduction scale is only 10 trillion RMB over five years, in terms of borrowing momentum and speed, we are far behind.
Local governments owe 120 trillion in local debts and urban investment bonds, and in just a few years, it's a case of a hundred steps laughing at fifty steps.
America can borrow as much as it wants; green paper is hard currency internationally because it is backed by the United States.
Do not compare with the US dollar, there is no comparability. I, like Jack Ma, have three meals a day and 24 hours in a day, both eat, drink, and sleep, but the value and wealth created are worlds apart.
Printing money is the job of the Federal Reserve, issuing bonds is the job of the US Treasury, the stakeholders are different; one is an interest group organization, the other is a state department.
Compared to them, our debt reduction task is much smaller, but even so, it has been magnified several times online. The economy is currently facing some troubles, but with our current strength, we can still resolve them slowly.
Does anyone have anything to say?